LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In
PolarityTE, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in PolarityTE, Inc. (“Polarity” or the
“Company”) (NASDAQ:COOL) of the August 27, 2018 deadline to seek the role of lead plaintiff in a federal securities class action
that has been filed against the Company.
If you invested in Polarity stock or options between March 31, 2017 and June 22, 2018 and would like to discuss your
legal rights, click here : www.faruqilaw.com/COOL. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com .
The lawsuit has been filed in the U.S. District Court for the District of Utah on behalf of all those who purchased Polarity
common shares between March 31, 2017 and June 22, 2018 (the “Class Period”). The case, Moreno v. Polarityte et al, No.
18-cv-00510 was filed on June 26, 2018, and has been assigned to Judge Jill N. Parrish.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by: (1) failing to disclose the
status of Patent #14/954,335 at the time it was acquired by the Company on April 7, 2017; and (2) failing to disclose the updated
status of Patent #14/954,335 after its June 4, 2018 final rejection by the United States Patent Office.
Specifically, on June 25, 2018, Citron Research released a report that accused the Company of securities fraud. The report
alleges that the Company knowingly misled investors by omitting important information on Patent #14/954,335, which was fundamental
to the Company’s business prospects.
On this news, Polarity’s common shares dropped from $38.73 per share on June 22, 2018 to $28.14 per share on June 25, 2018—a
$10.59 or 27.33% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Polarity’s conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future
matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
View source version on businesswire.com: https://www.businesswire.com/news/home/20180730005787/en/