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

  • If you purchased shares of PolarityTE, Inc. (NASDAQ: COOL), you may have certain options. Please contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
PolarityTE, Inc.
Security
NASDAQ: COOL

Case Name
PolarityTE Shareholder Class Action Lawsuit 06/27/2018
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Utah

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

November 22, 2020 - The court granted the defendants' motion to dismiss. The case was dismissed.

June 3, 2019 - A motion to dismiss the amended complaint was filed.

April 2, 2019 - An amended complaint was filed.

June 26, 2018 - 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.