NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announced today that a class action lawsuit has been filed against PolarityTE, Inc. (Nasdaq: COOL) on behalf of investors who acquired PolarityTE securities between March 31, 2017 and June 25, 2018, inclusive (the “Class Period”), seeking recovery of damages for alleged violations of the federal securities laws. Investors have until Monday, August 27, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that on June 25, 2018, Citron Research published a report alleging that PolarityTE is a “fraud,” accusing it of failing to disclose that its key technology has been rejected patent status by the United States Patent and Trademark Office. Citron Research further alleged that PolarityTE failed to disclose its patent rejection in its subsequent SEC filings. On this news, shares of PolarityTE fell from $38.73 to $28.14 on June 25, 2018 (a decline of $10.59 per share, or approximately 27%).
If you acquired shares of PolarityTE during the Class Period and would like more information about the lawsuit or about claims that you may have, you may contact Thomas W. Elrod, Esq. of Kirby McInerney LLP at (212) 371-6600, or by email at firstname.lastname@example.org, or by filling out the form at the link below to discuss your rights and options without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
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