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

© Reuters. FILE PHOTO: The headquarters of the U.S. Securities and Change Fee (SEC) are seen in Washington, July 6, 2009. REUTERS/Jim Bourg/File Picture

NEW YORK (Reuters) – Nano-X Imaging and its founder Ran Poliakine agreed to pay almost $1.1 million to settle U.S. Securities and Change Fee costs accusing the Israeli medical imaging firm of negligently deceptive traders about the price to make its flagship product.

Poliakine was accused of claiming in 2020 and 2021 that Nano-X may mass-produce Nanox.ARC, purportedly a lower-cost various to present X-ray units, for $8,000 to $12,000 every, whereas ignoring larger estimates supplied by firm executives, together with engineering executives.

The SEC stated Nano-X additionally touted the misleadingly low estimate earlier than and after its August 2020 preliminary public providing, which raised $165 million.

Poliakine was Nano-X’s chief government on the time of the deceptive statements, and is now non-executive chairman, the SEC stated.

With out admitting or denying wrongdoing, Nano-X and Poliakine agreed to pay respective civil fines of $650,000 and $150,000, and Poliakine pays $267,000 in disgorgement plus curiosity.

Nano-X declined further remark.

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