Robbins LLP is Investigating Allegations that Nano Nuclear Energy Inc. (NNE) Misled Investors Regarding the Timeline for its Commercial Operations

Robbins LLP reminds investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired Nano Nuclear Energy Inc. (NASDAQ: NNE) securities between May 8, 2024 and July 18, 2024. NNE is an “early stage nuclear energy company” in the process of “developing smaller, cheaper, and safer advanced portable clean energy solutions.”

The Allegations

According to the complaint, during the class period, defendants 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.

Plaintiff alleges that on July 19, 2024, Hunterbrook Media published a report entitled “Fission Impossible: Nano Nuclear has no revenue, no Products, “Laughable” Timelines, Part-Time Executives, and a $600 Million Market Cap.” The report quoted an industry expert who called NNE’s timeline [to bring nuclear microreactors to market between 2030 and 2031] “frankly laughable” and a former chair of the U.S. Nuclear Regulatory Commission who said flatly it “won’t happen” citing competitors with more expertise and resources that have taken 15-20 years for similar projects. The report further noted that despite the Company's claim that approvals for a uranium fuel fabrication facility were “pretty much complete,” NNE appears to have “filed no permitting or regulatory application documents with the NRC” based on a review of the agency’s publicly available online records. On this news, NNE's share price fell over 10% after Hunterbrook released its report.

What Now: Shareholders who own Nano Nuclear Energy Inc. stock have legal options. Submit a form to speak with an attorney.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.