CONTACT: The Schall Law Firm Brian Schall, Esq.www.schallfirm.com Office: 310-301-3335info@schallfirm.com
SOURCE: The Schall Law Firm
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SAN DIEGO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Nano Nuclear Energy Inc. (NASDAQ: NNE) securities between May 8, 2024 and July 18, 2024. NNE is an “early stage nuclear energy company” in the process of “developing smaller, cheaper, and safer advanced portable clean energy solutions.”
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Nano Nuclear Energy Inc. (NNE) Misled Investors Regarding the Timeline for its Commercial Operations
According to the complaint, during the class period, defendants failed to disclose that: (a) NNE’s purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; (b) NNE’s timelines for commercialization were wildly optimistic, at best, and most likely impossible; (c) the foregoing issues were likely to have a material negative impact on the Company’s projected revenues and growth; (d) as a result, the Company's financial position and/or prospects were overstated; and (e) as a result, defendants’ public statements were materially false and misleading at all relevant times.
Plaintiff alleges that on July 19, 2024, Hunterbrook Media published a report entitled “Fission Impossible: Nano Nuclear has no revenue, no Products, “Laughable” Timelines, Part-Time Executives, and a $600 Million Market Cap.” The report quoted an industry expert who called NNE’s timeline [to bring nuclear microreactors to market between 2030 and 2031] “frankly laughable” and a former chair of the U.S. Nuclear Regulatory Commission who said flatly it “won’t happen” citing competitors with more expertise and resources that have taken 15-20 years for similar projects. The report further noted that despite the Company's claim that approvals for a uranium fuel fabrication facility were “pretty much complete,” NNE appears to have “filed no permitting or regulatory application documents with the NRC” based on a review of the agency’s publicly available online records. On this news, NNE's share price fell over 10% after Hunterbrook released its report.
What Now: You may be eligible to participate in the class action against Nano Nuclear Energy Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by October 8, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
To be notified if a class action against Nano Nuclear Energy settles or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today.
Attorney Advertising. Past results do not guarantee a similar outcome.
Contact:Aaron Dumas, Jr. Robbins LLP5060 Shoreham Pl., Ste. 300San Diego, CA 92122adumas@robbinsllp.com(800) 350-6003www.robbinsllp.com | https://www.facebook.com/RobbinsLLP/https://www.linkedin.com/company/robbins-llp/ |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/36f57c6b-0150-4ae9-bacd-4826d390716a
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Philadelphia, Pennsylvania--(Newsfile Corp. - September 18, 2024) - Attention NANO Nuclear Energy Inc. ("NANO" or the "Company") (NASDAQ: NNE) Investors. A securities fraud class action lawsuit has been filed against NANO on behalf of purchasers of NANO securities between May 8, 2024 and July 18, 2024, inclusive (the "Class Period").
CLICK HERE (https://api.newsfilecorp.com/redirect/BpoJ4SGnnY) to learn more about the lawsuit.
Important deadline: Investors who purchased or acquired NANO securities during the Class Period may, no later than October 8, 2024, seek to be appointed as a lead plaintiff representative of the class.
NANO, headquartered in New York City, defines itself as an "early stage nuclear energy company" in the process of "developing smaller, cheaper, and safer advanced portable clean energy solutions." It is currently developing ZEUS, a solid-core battery reactor and ODIN, a low-pressure coolant reactor.
On July 19, 2024, investors learned the truth about the Company when Hunterbrook Media published a report entitled "Fission Impossible: Nano Nuclear Has No Revenue, No Products, 'Laughable' Timelines, Part-Time Executives, and a $600 Million Market Cap." When the market absorbed this report, the price of NANO's shares declined $3.33 per share, or 17%, on July 22, 2024.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE (https://api.newsfilecorp.com/redirect/55Vaks4DDe).
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague (https://api.newsfilecorp.com/redirect/LGNPLiajjn), with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation (https://api.newsfilecorp.com/redirect/oLvbpTMggB) since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts: Andrew Abramowitz, Senior Counsel Berger Montague
(215) 875-3015 aabramowitz@bm.net
Peter Hamner Berger Montague PC
(215) 875-3048 phamner@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223760
U.S. stocks traded higher toward the end of trading, after the Federal Reserve slashed interest rates.
The Dow traded up 0.33% to 41,744.18 while the NASDAQ rose 0.71% to 17,752.73. The S&P 500 also rose, gaining, 0.43% to 5,659.04.
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Consumer discretionary shares rose by 0.9% on Wednesday.
In trading on Wednesday, utilities shares fell by 0.7%.
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The Federal Reserve slashed interest rates by 50 basis points Wednesday at its September Federal Open Market Committee meeting, lowering the federal funds rate to a range of 4.75% to 5%. This marks the first rate cut in over four years and breaks a streak of 12 consecutive months with rates held steady.
Equities Trading UP
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In commodity news, oil traded down 0.1% to $71.12 while gold traded up 1% at $2,618.80.
Silver traded down 1.2% to $31.34 on Wednesday, while copper rose 1.3% to $4.3275.
Euro zone
European shares closed lower today. The eurozone's STOXX 600 fell 0.50%, Germany's DAX fell 0.08% and France's CAC 40 fell 0.57%. Spain's IBEX 35 Index fell 0.16%, while London's FTSE 100 fell 0.68%.
Annual inflation rate in the Eurozone fell to 2.2% in August, recording the lowest level since July 2021, compared to 2.6% in the prior month. Construction output in the Eurozone fell by 2.2% year-over-year in July compared to a revised 1.3% decline in the previous month.
Annual inflation rate in the UK came in unchanged at 2.2% in August, in line with estimates, while producer prices increased 0.2% year-over-year in August.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.49%, China's Shanghai Composite Index gaining 0.49% and India's BSE Sensex falling 0.16%.
Japanese trade deficit shrank to JPY 695.30 billion in August from JPY 940.10 billion in the year-earlier month, and versus market expectations of a JPY 1,380 billion gap.
Economics
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
NEW YORK, Sept. 18, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of NANO Nuclear Energy Inc. (NASDAQ: NNE).
Shareholders who purchased shares of NNE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.
CONTACT US HERE:
CLASS PERIOD: May 8, 2024 to July 18, 2024
ALLEGATIONS: The complaint alleges that during the class period, Defendants issued materially false and/or misleading statements and/or failed to disclose that: a) NNE’s purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; b) NNE’s timelines for commercialization were wildly optimistic, at best, and most likely impossible; c) the foregoing issues were likely to have a material negative impact on the Company’s projected revenues and growth; d) as a result, the Company's financial position and/or prospects were overstated; and e) as a result, defendants’ public statements were materially false and misleading at all relevant times.
DEADLINE: October 8, 2024 Shareholders should not delay in registering for this class action. Register your information here: https://securitiesclasslaw.com/securities/nano-nuclear-energy-inc-loss-submission-form/?id=103188&from=3
NEXT STEPS FOR SHAREHOLDERS: Once you register as a shareholder who purchased shares of NNE during the timeframe listed above, you will be enrolled in a portfolio monitoring software to provide you with status updates throughout the lifecycle of the case. The deadline to seek to be a lead plaintiff is October 8, 2024. There is no cost or obligation to you to participate in this case.
WHY GROSS LAW FIRM? The Gross Law Firm is a nationally recognized class action law firm, and our mission is to protect the rights of all investors who have suffered as a result of deceit, fraud, and illegal business practices. The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a company lead to artificial inflation of the company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:The Gross Law Firm15 West 38th Street, 12th floorNew York, NY, 10018Email: dg@securitiesclasslaw.comPhone: (646) 453-8903
U.S. stocks traded lower midway through trading, with the S&P 500 falling around 0.2% on Wednesday.
The Dow traded down 0.21% to 41,520.08 while the NASDAQ fell 0.25% to 17,584.86. The S&P 500 also fell, dropping, 0.21% to 5,622.88.
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Leading and Lagging Sectors
Real estate shares rose by 0.2% on Wednesday.
In trading on Wednesday, financials shares fell by 0.3%.
Top Headline
Housing starts in the U.S. climbed by 9.6% from the prior month to an annualized rate of 1.356 million units for August. U.S. building permits gained by 4.9% to an adjusted annual rate of 1.475 million in August.
Equities Trading UP
Equities Trading DOWN
Commodities
In commodity news, oil traded down 0.8% to $70.65 while gold traded up 0.3% at $2,599.90.
Silver traded down 0.3% to $30.90 on Wednesday, while copper rose 0.6% to $4.2990.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.35%, Germany's DAX rose 0.08% and France's CAC 40 fell 0.40%. Spain's IBEX 35 Index fell 0.13%, while London's FTSE 100 fell 0.61%.
Annual inflation rate in the Eurozone fell to 2.2% in August, recording the lowest level since July 2021, compared to 2.6% in the prior month. Construction output in the Eurozone fell by 2.2% year-over-year in July compared to a revised 1.3% decline in the previous month.
Annual inflation rate in the UK came in unchanged at 2.2% in August, in line with estimates, while producer prices increased 0.2% year-over-year in August.
Asia Pacific Markets
Asian markets closed mostly higher on Wednesday, with Japan's Nikkei 225 gaining 0.49%, China's Shanghai Composite Index gaining 0.49% and India's BSE Sensex falling 0.16%.
Japanese trade deficit shrank to JPY 695.30 billion in August from JPY 940.10 billion in the year-earlier month, and versus market expectations of a JPY 1,380 billion gap.
Economics
Now Read This:
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
LOS ANGELES, CA / ACCESSWIRE / September 18, 2024 / The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against NANO Nuclear Energy Inc. ("Nano" or "the Company") (NASDAQ:NNE) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's securities between May 8, 2024 and July 18, 2024, inclusive (the "Class Period"), are encouraged to contact the firm before October 8, 2024.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Nano touted its progress towards regulatory approval for its micro reactor design and fuel fabrication plant, but that progress did not exist. The Company's commercialization timeline was completely unrealistic. Based on these facts, the Company's public statements were false and materially misleading throughout the class period. When the market learned the truth about Nano, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT: The Schall Law Firm Brian Schall, Esq.www.schallfirm.com Office: 310-301-3335info@schallfirm.com
SOURCE: The Schall Law Firm
Philadelphia, Pennsylvania--(Newsfile Corp. - September 17, 2024) - Nationally recognized law firm Berger Montague PC informs investors that a lawsuit was filed against NANO Nuclear Energy Inc. ("NANO" or the "Company") (NASDAQ: NNE) on behalf of purchasers of NANO securities between May 8, 2024 and July 18, 2024, inclusive (the "Class Period").
Investors that suffered losses from NANO (NASDAQ: NNE) investments can follow the link below for more information regarding the lawsuit:
CLICK HERE (https://api.newsfilecorp.com/redirect/yEOJei50kn) to learn more about the lawsuit.
Investors who purchased or acquired NANO securities during the Class Period may, no later than October 8, 2024, seek to be appointed as a lead plaintiff representative of the class.
According to the lawsuit, NANO and its senior executives misled investors about its financial and business prospects, failing to disclose that: (i) NANO's purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; (ii) NANO's timelines for commercialization were unreasonably optimistic; and (iii) these issues were likely to have a negative impact on NANO's projected revenues and growth.
On July 19, 2024, investors learned the truth about the Company when Hunterbrook Media published a report entitled "Fission Impossible: Nano Nuclear Has No Revenue, No Products, 'Laughable' Timelines, Part-Time Executives, and a $600 Million Market Cap." When the market absorbed this report, the price of NANO's shares declined $3.33 per share, or 17%, on July 22, 2024.
For additional information or to learn how to participate in this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.net or (215) 875-3015, or Peter Hamner at phamner@bm.net or (215) 875-3048, or CLICK HERE (https://api.newsfilecorp.com/redirect/1pNyesyMeg).
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague (https://api.newsfilecorp.com/redirect/AMLA2sq2a8), with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation (https://api.newsfilecorp.com/redirect/ZABNgCL0D0) since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contacts: Andrew Abramowitz, Senior Counsel Berger Montague
(215) 875-3015 aabramowitz@bm.net
Peter Hamner Berger Montague PC
(215) 875-3048 phamner@bm.net
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/223613
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