LOS ANGELES--(BUSINESS WIRE)--National securities litigation law firm Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired PolarityTE, Inc. (“PolarityTE” or the “Company”) (NASDAQ: COOL) securities between March 31, 2017 and June 22, 2018, inclusive (the “Class Period”). PolarityTE investors have until August 27, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
Investors that suffered losses on their PolarityTE investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
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 noted that PolarityTE failed to disclose its patent rejection in its subsequent SEC filings. On this news, PolarityTE’s stock fell sharply during intraday trading on June 25, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about PolarityTE’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose material information pertaining to a number of topics, including: (1) the status of Patent #14/954,335 at the time it was acquired by PolarityTE on April 7, 2017 and the months following; (2) the updated status of Patent #14/954,335 after its June 4, 2018 final rejection by the U.S. Patent Trademark Office; and (3) as a result of the foregoing, PolarityTE’s publicly disseminated financial statements were materially false and misleading.
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If you purchased shares of PolarityTE during the Class Period you may move the Court no later than August 27, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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