NEW YORK, July 26, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Nano Nuclear Energy Inc. (“Nano” or the “Company”) (NASDAQ: NNE). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Nano and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On July 19, 2024, Hunterbrook Media (“Hunterbrook”) published a report entitled “Fission Impossible: Nano Nuclear Has No Revenue, No Products, ‘Laughable’ Timelines, Part-Time Executives, and a $600 Million Market Cap”. Among other allegations, the Hunterbrook report stated that while Nano “estimates that it will bring nuclear microreactors to market between 2030 and 2031”, “[a]n expert called this timeline ‘frankly laughable’ . . . given that competitors with more resources have taken 15-20 years for similar projects”; that “the company’s auditor was recently sanctioned and fined by the Public Company Accounting Oversight Board for taking on hundreds of SPAC clients without necessary resources”; and that “[a]s of July 2024, the U.S. Nuclear Regulatory Commission does not list [Nano] among the companies that have begun pre-application activities for the kind of reactor [Nano] is pitching.”
On this news, Nano’s stock price fell $3.33 per share, or 17.25%, to close at $15.97 per share on July 22, 2024.
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CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
