Safirstein Metcalf LLP Announces That a Class Action Has Been Filed Against PolarityTE, Inc. - COOL
NEW YORK, July 05, 2018 (GLOBE NEWSWIRE) -- Safirstein Metcalf LLP announces that a class action lawsuit has been filed against PolarityTE, Inc. (“PolarityTE” or the “Company”) (NASDAQ:COOL) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired PolarityTE securities between March 31, 2017 and June 22, 2018 (the “Class Period”).
If you purchased or acquired PolarityTE securities during the Class Period and would like more information about the shareholder class action, please contact Safirstein Metcalf LLP at 1-800-221-0015, or email info@SafirsteinMetcalf.com
If you wish to serve as lead plaintiff, you must move the Court no later than August 27, 2018. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice or may choose to do nothing and remain an absent class member
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements related to the status of its patents and as a result of the foregoing, PolarityTE’s publicly disseminated financial statements were materially false and misleading.
On June 25, 2018, Citron Research released a report calling PolarityTE a “fraud,” and accused the Company of failing to disclose that its key technology has been rejected by the United States Patent and Trademark Office, just days before the Company’s public offering. Following this news, PolarityTE’s stock fell $12.32 per share, or over 31%, over two consecutive trading days to close at $26.41 per share on June 26, 2018.
About Safirstein Metcalf LLP
Safirstein Metcalf LLP focuses its practice on shareholder rights. The law firm also practices in the areas of antitrust and consumer protection. All of the Firm’s legal endeavors are rooted in its core mission: provide investor and consumer protection.
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Safirstein Metcalf LLP Peter Safirstein, Esq The Empire State Building 350 Fifth Avenue 59th Floor New York, NY 10118 1-800-221-0015