Investor Alert: Kaplan Fox Announces Investigation Of PolarityTE Inc.
NEW YORK, July 6, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of PolarityTE, Inc. ("PolarityTE" or the "Company") (NASDAQ: COOL). Investors who purchased PolarityTE common shares between March 31, 2017 and June 22, 2018 (the "Class Period") may be affected.
On June 25, 2018, Citron Research released a report accusing PolarityTE of being a "fraud," and of failing to disclose that its key technology had been rejected by the United States Patent and Trademark Office (the "USPTO") as early as March 31, 2017 pursuant to a non-final rejection from the USPTO.
On June 25, 2018, following the publication of the Citron Report, the Company's common shares fell $10.59 per share, or about 27.3%, to close at $28.14 per share.
A complaint has been filed in the United States District Court, District of Utah against PolarityTE and certain individuals on behalf of investors who purchased or otherwise acquired PolarityTE common shares during the Class Period. According to the Complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose (1) the status of Patent #14/954,335 at the time it was acquired by PolarityTE on April 7, 2017 and for months afterwards, and (2) the updated status of Patent #14/954,335 after a June 4, 2018 final rejection by the USPTO.
If you are a member of the proposed Class, you may move the court no later than August 27, 2018 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 800-290-1952.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
(415) 772-4700
Fax: (415) 772-4707
E-mail: [email protected]
SOURCE Kaplan Fox & Kilsheimer LLP
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