A class action has been filed in the Southern District of New York on behalf of all entities that acquired the securities of Nano Nuclear Energy, Inc. (NNE)

CHARLESTON, SOUTH CAROLINA, UNITED STATES, August 16, 2024 /EINPresswire.com/ -- Poulin Willey Anastopoulo LLC announces that a class action has been filed in the United States District Court for the Southern District of New York on behalf of all persons and entities that purchased or otherwise acquired (or still own) the securities of Nano Nuclear Energy, Inc. (“NNE” or the “Company”) (NASDAQ:NNE) between May 8, 2024 and July 18, 2024, both dates inclusive (the “Class Period”). Plaintiff is pursuing claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”). NNE describes itself as an “early stage nuclear energy company” in the process of “developing smaller, cheaper and safer advanced portable clean energy solutions.”

According to the Complaint, Case 1:24-cv-06057, throughout the Class Period, Defendants made false and/or misleading statements and failed to disclose material facts, including that: (i) NNE’s purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; (II) NNE’s timelines for commercialization were overly optimistic, at best, and most likely impossible; (iii) the foregoing issues were likely to have a material negative impact on the Company’s projected revenues and growth; and (iv) as a result, the Company’s financial position and/or prospects were overstated; and (v) as a result Defendants’ public statements were materially false at all relevant times.

The Complaint alleges that the truth emerged on July 19, 2024, 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” (the “Hunterbrook Report”). The Hunterbrook Report contained some revelations about NNE and other adverse information about the Company. After the Hunterbrook Report was issued on July 19, 2014, the Company’s share price dropped over 10%. On July 22, 2024, the next trading day, NNE’s stock price dropped again, falling from a close of $19.30 per share to close at $15.97 per share, a 17% decline. The Company’s stock continued to decline, closing at $9.86 per share on August 1, 2024.

Investors who purchased or otherwise acquired (or currently own) NNE securities should contact the Firm before October 8, 2024, the lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this securities class action, please contact Ahmad Jackson at 803-222-222 or via e-mail at ahmad.jackson@poulinwilley.com.

Any additional questions may be directed to Stuart J. Guber, Esq, at stuart.guber@poulinwilley.com, the Firm’s Director of Shareholder Services and Securities Litigation, with almost 35 years of experience representing public pension funds, Taft-Hartley union pension plans and health & welfare funds, and high net-worth investors and other individuals in securities class actions and opt-out litigation.

In addition, firm partner Roy Willey IV has served as counsel in class actions and multi district litigations across the country. He brings a creative, problem-solving based approach to handling cases for consumers, investors and others harmed through no fault of their own. As a result he has been repeatedly named among America’s Top 100 High Stakes Litigators, Best Lawyers, and Super Lawyers.

Poulin | Willey | Anastopoulo has offices in Florence, Charleston, Ladson, Columbia, Greenville, Lexington, Myrtle Beach, Rock Hill, and Hampton, South Carolina. Charlotte and Lumberton, North Carolina. Atlanta, Albany, Athens, Augusta, Columbus and Macon in Georgia. Visit: RespectResults.com to learn more.

Stuart Guber
Poulin | Willey | Anastopoulo
+1 803-222-2222
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