Nano-X Shares Fall As SEC Probes Into Violation Of Securities Laws

Nano-X Imaging Ltd NNOX revealed an investigation by the U.S. Securities & Exchange Commission (SEC) into the potential violation of federal securities laws.
In the regulatory filing submitted with its Q3 2021 financials, Nano-X disclosed that the SEC’s Division of Enforcement notified the Company about the ongoing investigation.
The Company added that it had provided the agency with necessary documents and information.
Meanwhile, Nano-X has also received a subpoena from the SEC for documents and information regarding the development of Nanox.ARC prototypes and the cost estimates for assembly of final Nanox.ARC product at scale.
Related: Nano-X Imaging Announces Two Acquisitions; Management Reshuffle.
Price Action: NNOX shares are down 8.20% at $19.96 during the market session on the last check Wednesday.