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NEW YORK–(BUSINESS WIRE) – Rosen Law Firm, a global investor rights law firm, announces an investigation into potential stock claims on behalf of shareholders of Sona Nanotech Inc. (OTC: SNANF) resulting from allegations that Sona may have released materially commercial information misleading to public investors.
On October 29, 2020, the Company announced that the Food and Drug Administration (“FDA”) denied the Company’s request for an emergency use authorization for the commercialization of its rapid COVID-19 antigen test in the United States. United. Based on this news, the Company’s stock prices fell from closing at $ 5.77 on October 28, 2020 to close at $ 3.00 on October 29, 2020, a decline of 48%.
On November 25, 2020, the Company announced the withdrawal of “a provisional order authorization from Health Canada for the commercialization of its rapid COVID-19 antigen test in order to obtain more clinical data to augment its submission.” Based on this news, the Company’s stock prices fell from close at $ 2.30 on November 24, 2020 to close at $ 0.74 on November 25, 2020, a drop of more than 67%.
Rosen law firm is filing a stock lawsuit on behalf of Sona’s shareholders. If you have purchased Sona securities, please visit the company’s website at http://www.rosenlegal.com/cases-register-1994.html to participate in the stock action. You can also contact Phillip Kim of Rosen Law Firm at the toll-free 866-767-3653 or by email at [email protected] or [email protected].
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Rosen law firm represents investors around the world, focusing its practice in class action in securities and shareholder derivatives litigation. Rosen law firm was ranked # 1 by ISS Securities Class Action Services for number of class action securities settlement in 2017. The firm has been ranked in the top 3 every year since 2013. Rosen law firm has achieved the most large collective action settlement ever made against a Chinese company. Rosen law firm’s attorneys are classified and recognized by numerous independent and respected sources. The Rosen law firm has secured hundreds of millions of dollars to investors.
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