NEW YORK, Aug. 15, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. reminds investors that class action lawsuits have been commenced on behalf of stockholders of Flex Pharma, Inc., Newell Brands, Inc., and PolarityTE, Inc. Stockholders have until the deadlines listed below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Flex Pharma, Inc. (NASDAQ: FLKS)
Class Period: November 6, 2017 – June 12, 2018
Lead Plaintiff Deadline: August 20, 2018
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Flex Pharma overstated the viability and approval prospects for its product candidate FLX-787 for the treatment of ALS and CMT; and (2) as a result, Flex Pharma’s public statements were materially false and misleading at all relevant times. On June 13, 2018, Flex Pharma announced that it planned to halt both the COMMEND and the COMMIT trials, citing oral tolerability concerns observed in both studies. Flex Pharma further announced that the Company will restructure its organization to reduce costs, including reducing its workforce by approximately 60%, and that Flex Pharma’s Board is exploring “strategic alternatives, including the potential sale or merger of the company.” On this news, Flex Pharma’s share price fell $3.14, or 75.12%, to close at $1.04 on June 13, 2018.
To learn more about the Flex Pharma class action go to: http://bespc.com/flex/ .
Newell Brands, Inc. (NYSE: NWL)
Class Period: February 6, 2017 – January 24, 2018
Lead Plaintiff Deadline: August 20, 2018
The complaint alleges that Newell and certain of its officers and/or directors with violations of the Securities Exchange Act of 1934. Newell is a global manufacturer and marketer of name-brand consumer products. In April 2016, Newell Rubbermaid, whose brands included Paper Mate, Sharpie, Rawlings, Lenox, Sunbeam, Graco and Rubbermaid, acquired Jarden Corporation (“Jarden”), a global consumer products company whose brands included Crock-Pot, FoodSaver, Mr. Coffee, Oster, Coleman, K2, Marker and Marmot. The combined company was renamed Newell Brands Inc. The complaint alleges that during the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information regarding Newell’s business and prospects. Specifically, Defendants misrepresented and/or failed to disclose the following adverse facts, among others: (1) the Company’s retail channel was loaded with extremely high levels of unsold Newell product; (2) contrary to Defendants’ representations, the build-up of Newell inventory in the retail channel was due to Company-specific rather than macroeconomic reasons; (3) as a result of the unusually high levels of unsold inventory in the retail channel, Newell was exposed to a heightened risk that it would experience slower sales growth in future periods; and (4) undisclosed managerial and cultural differences in the legacy Newell and Jarden businesses had created significant internal discord that was having a material adverse effect on the Company’s operating performance.
To learn more about the Newell class action go to: https://bespc.com/newell/ .
PolarityTE, Inc. (NASDAQ: COOL)
Class Period: March 31, 2017 – June 22, 2018
Lead Plaintiff Deadline: August 27, 2018
The complaint alleges that on June 25, 2018, Citron Research (“Citron”) issued a report in which Citron detailed the Company’s track record of material misrepresentations, misstatements, and omissions pertaining to the status of a key patent application. The Citron report noted that as far back as March 31, 2017, the USPTO notified the Company of its non-final rejection of patent #14/954,335. Citron’s report continued to highlight the Company’s subsequent failure to disclose the patent’s non-final rejection status and its continued behavior of representing the technology linked to the patent in a positive light. The report also pointed to the USPTO’s final rejection of the patent on June 4, 2018 information that the Company also failed to disclose. On this news, COOL stock fell more than 34%.
To learn more about the PolarityTE class action go to: https://bespc.com/polarityte/ .
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. 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
