|Company name||PolarityTE, Inc.|
NEW YORK, February 18, 2020 –Bragar Eagel & Squire is investigating certain officers and directors of PolarityTE, Inc. (NASDAQ: PTE) following a class action complaint filed against PolarityTE on June 26, 2018.
The complaint alleges that on June 25, 2018, Citron Research (“Citron”) issued a report in which Citron detailed the company’s track record of material misrepresentations, misstatements, and omissions pertaining to the status of a key patent application. The Citron report noted that as far back as March 31, 2017, the USPTO notified the company of its non-final rejection of patent #14/954,335. Citron’s report continued to highlight the company’s subsequent failure to disclose the patent’s non-final rejection status and its continued behavior of representing the technology linked to the patent in a positive light. The report also pointed to the USPTO’s final rejection of the patent on June 4, 2018 information that the company also failed to disclose.
On this news, PolarityTE stock plunged more than 34%.
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