The eligible Settlement Class Members have received a Notice from the Court about a class action lawsuit concerning Nano-X securities between August 21, 2020, and November 17, 2021. On February 15, 2024, a hearing will be held to approve or reject this settlement.
Nano X Securities Settlement
We would like to notify you of the suggested settlement of the entire nano x securities class action litigation and the Stipulation Hearing scheduled for February 15, 2024, at 11:00 a.m., by the Court, to discuss
- The Plan of Distribution and the Conditions of Settlement, signed June 2, 2023, regarding the Settlement’s sufficiency, equitable treatment, and appropriateness.
- Whether the $8.0 million Settlement Payment should be paid in full before the Hearing, as specified by the Restriction, becomes final.
- Whether to accept the allotment Plan and Settlement.
- How to pay the costs and fees of Leader Counsel’s lawyers?
- How to give the Lead Defendants compensation for their fair time, expenditures, and expenses spent in representing the Settlement Class?
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Who is eligible to file a claim for nano x securities settlement?
Receiving notification does not entitle you to a payout from the Settlement or make you an integral part of the Settlement Class.
Evidence of Entitlement and Disclosure along with supporting paperwork must be filed by February 19, 2024, either online or by email, shipped, or brought in by a private messenger to be eligible to get a portion of the settlement profits.
Payments under the Settlement are only available to holders of exchange-traded or publicly offered Nano-X securities acquired within the Class Period, which ran from August 21, 2020, through November 17, 2021, inclusive.
How do you file a claim for nano x securities settlement?
If you’re a member of the Settlement Class, you must file an Application Form by mail with a postmark by February 19, 2024, or on the website by that date. You can use an electronic claim filing form to submit the claim form.
Or By email to the Notice Administrator at the below address: Nano-X Securities Litigation Settlement, c/o Epiq Systems, Inc. P.O. Box 6786 Portland, OR 97228-6786. Here is the step by step procedure is given below to file a claim online.
- Navigate to the https://www.nanoxsettlement.com/ website.
- Search and hit the claim form option from the menu bar.
- A form appears on the screen.
- Fill out all required information in the Contact Information section such as name, address, country, account number, SSN phone number, email, etc.
- After entering all the data press the next option.
- Now fill out all the required information in the schedule of transactions in nano x securities options such as purchase date, sale date, number of shares, per share price, etc.
- Acknowledges and agrees to every condition and term.
- Check your information; if you don’t file, procedures will take longer, and your claim might even be denied.
- Hit the submit button.
What is this lawsuit about?
Two class action lawsuits against Israeli development business Nano-X are pending in the US District Court for the Eastern District of New York. The complaints claim that by making misleading representations or concealing important facts, Nano-X and its managers and officers breached Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The complainants assert that between August 21, 2020, and September 15, 2020, Nano-X made misleading and deceptive assertions regarding approval from regulators and reduced expenses for their imaging technology.
How much do you get from the nano x securities settlement?
The amount of the Final Settlement Fund is distributed according to each Authorized Claimant’s Recognized Claim and is contingent upon the quantity of such claims. Distributions take place following the processing of all claims and the Settlement’s approval by the Court.
Head Counsel will redistribute any remaining funds, with a minimum amount of $10.00, to the individuals who requested checks, if any remain after the first allocation after six months.
If the remainder cannot be paid, it will be given 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 conduct a Settlement Hearing to determine whether it will accept the Settlement. The Claims Administrator will conclude the administrative procedure and ascertain the amount that each Approved Claimant is eligible to get the Settlement accepted.
After that, the Lead Counsel will ask the Court for approval to give Authorized Claimants a pro-rata share of the Total Settlement Fund. This will inevitably take a while. Please show patience. You will be able to receive your payment within 2 to 3 weeks after the court approval.