SHAREHOLDER ALERT: Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Filed Against PolarityTE Inc.
July 16 2018 - 2:48PM
Business Wire
The law firm of Spector, Roseman & Kodroff, P.C. announces
that a securities class action lawsuit has been filed on behalf of
investors who purchased PolarityTE Inc. (Nasdaq: COOL) securities
on the open market between March 31, 2017 and June 25, 2018
(the “Class Period”).
According to the lawsuit, throughout the Class Period,
defendants failed to disclose material adverse facts about
PolarityTE's business, operations, and prospects, 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; and (2) the
updated status of Patent #14/954,335 after its June 4, 2018 final
rejection by the U.S. Patent Trademark Office. On June 25, 2018,
Citron Research published a report exposing the Company’s failure
to disclose a March 31, 2017 notice on non-final rejection of the
patent and the June 4, 2018 final rejection. On this news, the
price of the Company’s common stock declined $13.37 per share, or
34%, to close at $25.60 per share.
Until a class is certified, you are not represented by counsel
unless you retain one. You may also remain an absent class member
and do nothing at this point or you may retain counsel of your
choice.
If you purchased PolarityTE securities during the Class Period,
you may, no later than August 27, 2018, move to be appointed
as a Lead Plaintiff in this class action. A Lead Plaintiff is a
representative chosen by the Court that acts on behalf of other
class members in directing the litigation. If you have sustained
substantial losses in PolarityTE securities during the Class Period
and wish to move to be appointed as Lead Plaintiff, please contact
Spector, Roseman & Kodroff, P.C. toll-free at 888-844-5862 or
via e-mail at classaction@srkattorneys.com. For more detailed
information about the firm please visit its website at
http://www.srkattorneys.com.
Spector, Roseman & Kodroff, P.C., located in Philadelphia,
Pennsylvania, concentrates its practice in complex litigation
including actions dealing with securities laws, antitrust,
contract, and commercial claims. The firm’s reputation for
excellence has been recognized by courts on repeated occasions. The
firm has recovered hundreds of millions of dollars through
judgments and settlements on behalf of defrauded shareholders and
companies.
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version on businesswire.com: https://www.businesswire.com/news/home/20180716005754/en/
Spector, Roseman & Kodroff, P.C.Robert M. Roseman,
888-844-5862
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