LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Sona Nanotech Inc. (“Sona” or “the Company”) (OTC: SNANF) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Sona announced on October 29, 2020, that the FDA had denied its request for an emergency use authorization to market its rapid COVID-19 antigen test in the United States. The Company’s shares fell 48% on the same day. Then on November 25, 2020, the Company announced the withdrawal of “an Interim Order authorization from Health Canada for the marketing of its rapid, COVID-19 antigen test in order to obtain more clinical data to augment its submission.” Based on this news, shares of Sona fell by more than 67% on the same day.
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