Israeli’s Nano-X settles US SEC charges over costs of flagship imaging device By Reuters

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<p>NEW YORK (Reuters) – Nano-X Imaging and its founder Ran Poliakine agreed to pay nearly $1.1 million to settle U.S. Securities and Exchange Commission charges accusing the Israeli medical imaging company of negligently misleading investors about the cost to make its flagship product.</p>
<p>Poliakine was accused of claiming in 2020 and 2021 that Nano-X could mass-produce Nanox.ARC, purportedly a lower-cost alternative to existing X-ray devices, for $8,000 to $12,000 each, while ignoring higher estimates provided by company executives, including engineering executives.</p>
<p>The SEC said Nano-X also touted the misleadingly low estimate before and after its August 2020 initial public offering, which raised $165 million.</p>
<p>Poliakine was Nano-X’s chief executive at the time of the misleading statements, and is now non-executive chairman, the SEC said.</p>
<p>Without admitting or denying wrongdoing, Nano-X and Poliakine agreed to pay respective civil fines of $650,000 and $150,000, and Poliakine will pay $267,000 in disgorgement plus interest.</p>
<p>Nano-X declined additional comment. </p>
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<br /><a href="https://www.investing.com/news/stock-market-news/israelis-nanox-settles-us-sec-charges-over-costs-of-flagship-imaging-device-3186877">Source link </a></p><p>The post <a href="https://forextraderhub.com/israelis-nano-x-settles-us-sec-charges-over-costs-of-flagship-imaging-device-by-reuters.html">Israeli’s Nano-X settles US SEC charges over costs of flagship imaging device By Reuters</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>