Nano Nuclear Beats Investor Suit Over Microreactor Development

NANO Nuclear Energy Inc. defeated proposed class allegations the early-stage company misled investors over its progress on its microreactors and fuel fabrication facility.

Many of the alleged misrepresentations and omissions challenged by the investor leading the case aren’t actionable or forward-looking, Judge Jesse M. Furman said in dismissing the investor’s complaint Thursday.

Investor Hongui Xie failed to establish, for example, that Nano Nuclear’s intention to use market debut proceeds for research and development or to work with a federal agency were false, the US District Court for the Southern District of New York judge said. Claims of employees being “world ...