The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of PolarityTE, Inc. (NASDAQ: COOL) who purchased shares between March 31, 2017 and June 22, 2018. The action, which was filed in the United States District Court for the District of Utah, alleges that the Company violated federal securities laws.
In particular, the COOL lawsuit alleges that (i) the status of Patent #14/954,335 at the time it was acquired by the Company on April 7, 2017 and the months following; (ii) the updated status of Patent #14/954,335 after its June 4, 2018 final rejection by the United States Patent Office; and (iii) that as a result of the foregoing, PolarityTE's publicly disseminated financial statements were materially false and misleading.
Shareholders have until August 27, 2018 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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