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.

Investors who purchased or acquired NANO Nuclear Energy securities between May 8, 2024 and July 18, 2024, may no later than October 8, 2024, seek to be appointed as a lead plaintiff representative of the class.