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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

INVESTOR ALERT: Kirby McInerney LLP Reminds Investors that Securities Class Action Lawsuits Have Been Filed on Behalf of Nano-X Imaging Ltd. (NNOX), Hyzon Motors, Inc. (HYZN), and Waterdrop Inc. (WDH) and Encourages Investors to Contact the Firm

November 5, 2021 GMT

NEW YORK, Nov. 05, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that securities class action lawsuits have been filed on behalf of stockholders of Nano-X Imaging Lt., Hyzon Motors, Inc., and Waterdrop Inc. Investors have until the deadlines below to apply to the Court to be appointed as lead plaintiff in the lawsuits. Additional information about each case can be found at the links provided below.

Nano-X Imaging Ltd. (“Nano-X” or the “Company”) (NASDAQ: NNOX )

Class Period: June 17, 2021 to August 18, 2021
Pending Court: U.S. District Court for the Eastern District of New York
Lead Plaintiff Deadline: December 6, 2021

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The lawsuit alleges throughout the Class Period, Defendants misled investors concerning the 510(k) submission for Nanox.ARC. Specifically, while touting Nanox.ARC’s regulatory and commercial prospects, Defendants concealed: (i) Nano-X’s 510(k) application for the Nanox.ARC was deficient; (ii) accordingly, it was unlikely that the FDA would approve the 510(k) application for the Nanox.ARC in its current form; and (iii) as a result, Nano- X had overstated Nanox.ARC’s regulatory and commercial prospects.

For additional information on the Nano-X lawsuit please visit this website.

Hyzon Motors, Inc. (“Hyzon” or the “Company”) (NASDAQ: HYZN )

Class Period: February 9, 2021 to September 27, 2021
Pending Court: U.S. District Court for the Western District of New York
Lead Plaintiff Deadline: November 29, 2021

The lawsuit alleges throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Hyzon was misrepresenting the nature of its “customer” contracts and severely embellished its “deals” and “partnerships” with customers; (2) Hyzon could not deliver its announced vehicles in 2021, on its stated timeline; and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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For additional information on the Hyzon lawsuits please visit this website.

Waterdrop Inc. (“Waterdrop” or the “Company”) (NYSE: WDH )

Class Period: May 4, 2021 to September14, 2021
Pending Court: U.S. District Court for the Southern District of New York
Lead Plaintiff Deadline: November 15, 2021

The lawsuit alleges that the Initial Public Offering’s (“IPO”) Registration Statement failed to disclose that Waterdrop was the subject of an intense regulatory investigation and pending crackdown by Chinese authorities because of a variety of market abuses perpetrated by Waterdrop used to artificially inflate Waterdrop’s short-term financial results in the lead up to the IPO, including, among other things: (i) operating insurance platforms without proper governmental authorizations; (ii) mispricing risks for consumers; and (iii) illicitly using client information. The Waterdrop class action lawsuit further alleges that, unbeknownst to investors, the reason that Waterdrop had discontinued its mutual aid segment was because it had been ordered to do so by Chinese regulators. Furthermore, Waterdrop had suffered rapidly accelerating operating losses in the first quarter of 2021 which was completed weeks before the IPO.

For additional information on the Waterdrop lawsuit please visit this website.

About Kirby McInerney LLP:

Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
(212) 371-6600
investigations@kmllp.com
www.kmllp.com