NEW YORK, June 28, 2018 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors 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"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.com/cool
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (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.
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 offering. Following this news, PolarityTE's stock dropped during intraday trading on June 25, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/cool or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in PolarityTE you have until August 27, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.