NEW YORK, June 27, 2018 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against PolarityTE, Inc. (“PolarityTE” or the “Company”) (Nasdaq: COOL ) in the United States District Court for the District of Utah on behalf of a class consisting of investors who purchased or otherwise acquired PolarityTE securities on the open market from March 31, 2017 and June 22, 2018, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that throughout 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; and (3) as a result of the foregoing, PolarityTE’s publicly disseminated financial statements were materially false and misleading. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the August 27, 2018 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com .
Please visit our website at http://www.gme-law.com for more information about the firm.
