NEW YORK, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Sona Nanotech Inc. (OTC: SNANF) resulting from allegations that Sona may have issued materially misleading business information to the investing public.
On October 29, 2020, the Company announced that the Food and Drug Administration (“FDA”) denied the Company's request for an emergency use authorization for the marketing of its rapid COVID-19 antigen test in the United States. On this news, the Company’s share prices fell from closing at $5.77 on October 28, 2020 to close at $3.00 on October 29, 2020, a drop of 48%.
On November 25, 2020, the Company announced its withdrawal of “an Interim Order authorization from Health Canada for the marketing of its rapid, COVID-19 antigen test in order to obtain more clinical data to augment its submission.” On this news, the Company’s share prices fell from closing at $2.30 on November 24, 2020 to close at $0.74 on November 25, 2020, a drop of over 67%.
Rosen Law Firm is preparing a securities lawsuit on behalf of Sona shareholders. If you purchased securities of Sona please visit the firm’s website at http://www.rosenlegal.com/cases-register-1994.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm’s attorneys are ranked and recognized by numerous independent and respected sources. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com