NEW YORK, June 27, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the District of Utah on behalf of all persons or entities who purchased or otherwise acquired PolarityTE, Inc. (NASDAQ:COOL) securities between March 31, 2017 and June 22, 2018 (the “Class Period”). Investors have until August 27, 2018 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that during 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 (“USPTO”); and (3) as a result of the foregoing, PolarityTE’s publicly disseminated financial statements were materially false and misleading.
On June 25, 2018, Citron Research (“Citron”) issued a report detailing the Company’s track record of material misrepresentations, misstatements, and omissions pertaining to the status of a key patent application. On this news, COOL stock plunged more than 34% from $38.73 to $28.14.
If you purchased PolarityTE securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the PolarityTE lawsuit, please go to https://bespc.com/polarityte/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com