On August 21, 2020, eligible Settlement Class Members received notification of a class action lawsuit concerning Nano-X securities between August 21, 2020, and November 17, 2021. On February 15th 2024 a hearing will take place to approve or deny this settlement agreement.
Nano X Securities Settlement
As part of our effort to resolve all nano x securities class action litigation, a Stipulation Hearing has been set for February 15, 2024 at 11:00 am by the Court, to consider suggested settlement of this litigation and discuss potential solutions.
Plan of Distribution and Conditions of Settlement signed June 2, 2023 address its sufficiency, equitable treatment and appropriateness; as well as whether its $8.0 Million Settlement Payment should be fully paid before the
Hearing, as specified in Restriction becomes final.
Accept or decline the Allotment Plan and Settlement. Pay the Lawyer Fees of Leader Counsel’s Lawyers. Compensate Lead Defendants for Time Spent Representing Settlement Class?
Who is eligible to file a claim for nano x securities settlement?
Receiving notice does not entitle you to a payout from the Settlement or make you part of its Settlement Class.
Evidence of Entitlement and Disclosure must be filed no later than February 19, 2024 online, via email, mail delivery or delivery by private messenger in order to be eligible to share in settlement profits.
Payments under the Settlement are only eligible to holders who purchased Nano-X securities during the Class Period from August 21, 2020 to November 17, 2021 inclusively.
How do you file a claim for Nano x securities settlement?
If you are part of the Settlement Class, an Application Form must be filed either via postmark by February 19, 2024, or online through an electronic claim filing form by the same date. To submit this claim form electronically.
Or emailing the Nano-X Securities Litigation Settlement Administrator at: Nano-X Securities Litigation Settlement, c/o Epiq Systems, Inc. P.O. Box 6786 Portland Oregon 97228-6786 Here is the step by step procedure on how to file online claims:
Navigating to https://nanoxsettlement.com/ will bring up a claim form option in the menu bar. After clicking, a form appears on-screen where all relevant contact details must be filled out such as name, address, country, account number, SSN phone number and email.
Once complete, press the “Next” option. When filling out your transaction schedule in nano x securities options such as purchase date and sale date as well as shares owned, per share price etc, it is necessary to acknowledge and agree to all conditions and terms.
Check your information; failing to file may delay proceedings and even lead to your claim being denied. When ready, click the submit button and send.
What is this lawsuit about?
Two class action lawsuits against Israeli development business Nano-X are currently pending before the US District Court for the Eastern District of New York, alleging that through misleading representations or concealing important facts, its managers and officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Complainants allege that, between August 21st and September 15th 2020, Nano-X made misleading and deceptive claims regarding approval from regulators and reduced expenses associated with their imaging technology.
How much do you get from the nano x securities settlement?
The Final Settlement Fund is distributed according to each Authorized Claimant’s Recognized Claim, depending upon their total quantity. After processing of all claims and receiving Court approval for approval of Settlement agreement, distributions take place accordingly.
Head Counsel will redistribute any remaining funds (within six months of their initial distribution), to those individuals who requested checks – with at least $10.00 going back into each individual’s wallet.
If the balance cannot be paid back in full, it will be donated to Shareholder Security Trust or another court-approved nonprofit benevolent organization.
When will you expect to receive your payout?
On February 15, 2024, the Court will host a Settlement Hearing to decide whether it accepts the Settlement or not. Following an administrative procedure and ascertaining eligibility requirements for each Approved Claimant to have their Settlement approved.
Lead Counsel will then request permission from the court for Authorized Claimants to receive their share of the Total Settlement Fund in pro rata proportion, taking several weeks depending on when court approval comes through. Once this happens, your payment should arrive within 2 to 3 weeks post court approval.