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Allegations
The filed complaint alleges that NANO Nuclear Energy Inc. made materially false and/or misleading statements and/or failed to disclose that: a) NNE’s purported progress toward regulatory approval for the design of its planned micro reactors and fuel fabrication plant was nonexistent; b) NNE’s timelines for commercialization were wildly optimistic, at best, and most likely impossible; c) the foregoing issues were likely to have a material negative impact on the Company’s projected revenues and growth; d) as a result, the Company's financial position and/or prospects were overstated; and e) as a result, defendants’ public statements were materially false and misleading at all relevant times.