NEW YORK--(BUSINESS WIRE)--Zamansky LLC announces that it is investigating PolarityTE, Inc. (NasdaqCM: COOL)(“PolarityTE” or the “Company”) for potential breaches of fiduciary duties by the Board of Directors to current shareholders. If you are a shareholder of PolarityTE who still holds your shares, please contact our firm for information.
On June 28, 2018, an investor filed a securities fraud class action lawsuit against PolarityTE in Utah federal district court. The lawsuit alleges that, in April 2017, the Company entered into an agreement to acquire a patent application from Dr. Denver Lough, its CEO, in exchange for stock, even though Dr. Lough had received non-final notice of the rejection of the patent week earlier. The lawsuit alleges that the Company also never disclosed the non-final patent rejection for nearly a year, and recently even registered to issue new stock to investors.
According to Jake Zamansky, investment fraud attorney, PolarityTE’s officers and directors owe their shareholders fiduciary duties. The accusations raise issues of potential concern for investors, Zamansky says. Our law firm is investigating whether the officers and directors breached their duties to shareholders, he says.
What PolarityTE Shareholders Can Do
If you are a current shareholder of PolarityTE who purchased before March 2017, and who still holds your stock, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email email@example.com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.