PolarityTE, Inc. (NASDAQ: COOL) Investor Securities Class Action Lawsuit 06/27/2018

If you purchased a significant amount of shares of PolarityTE, Inc. (NASDAQ: COOL) between March 31, 2017 and June 25, 2018, and / or if you purchased any NASDAQ: COOL shares prior to March 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: August 27, 2018. NASDAQ: COOL investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
PolarityTE
Case Name: 
PolarityTE Shareholder Class Action Lawsuit 06/27/2018
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: COOL
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
06/27/2018
Class Period Begin: 
03/31/2017
Class Period End: 
06/25/2018
Court of Filing: 
U.S. District Court for the District of Utah
Deadline To File for Lead: 
08/27/2018
Summary: 

An investor in shares of PolarityTE, Inc. (NASDAQ: COOL) filed a lawsuit in the U.S. District Court for the District Court of Utah over alleged violations of Federal Securities Laws by PolarityTE, Inc. in connection with certain allegedly false and misleading statements made between March 31, 2017 and June 25, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of PolarityTE, Inc. (NASDAQ: COOL) common shares between March 31, 2017 and June 25, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 31, 2017 and June 25, 2018, the Defendants made false and/or misleading statements and/or failures to disclose pertaining to a number of topics, including the status of Patent #14/954,335 at the time it was acquired by the Company on April 7, 2017 and the months following, the updated status of Patent #14/954,335 after its June 4, 2018 final rejection by the USPTO, and that as a result of the foregoing, PolarityT's publicly disseminated financial statements were materially false and misleading.

Salt Lake City, UT based PolarityTE, Inc. operates as commercial-stage biotechnology and regenerative biomaterials company in the United States.

On June 25, 2018, a report was published entitled "Citron Exposes History of FRAUD Behind PolarityTE.... That is right...we said it –FRAUD," wherein a series of alarming red flags suggesting that the SEC should halt this stock immediately were detaild. Specifically, the reports represents that PolarityTE, Inc. raised money based on a patent application that was rejected days before the offering and Citron called on the Securities and Exchange Commission to investigate. Shares of PolarityTE, Inc. (NASDAQ: COOL) declined from $41.22 per share on June 21, 2018 to $21.73 per share on June 27, 2018.