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Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against PolarityTE, Inc.

To join this class action, please complete the following Investor Certification.  

PolarityTE, Inc. [NASDAQ: COOL] Investor Certification

  • Plaintiff Certifies That:

  • # Shares PurchasedDate Of PurchasePrice Paid Per ShareClass Of Stock (e.g. Common)If Sold, # Of Shares SoldDate Sold (If Sold)Per Share Selling Price 
  • MM slash DD slash YYYY
  • Please type: /s/ Your Full Name (e.g. /s/ John Doe)
  • Type Full Name Here

Oklahoma City, OK (June 27, 2018) – On June 26, 2018, a securities class action lawsuit was filed in the United States District Court for the District of Utah against PolarityTE, Inc. (NASDAQ: COOL).  The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is March 31, 2017 through June 22, 2018.  More specifically, this litigation was filed because the Company and its executives allegedly 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.

Plaintiff seeks to recover damages on behalf of all PolarityTE, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above.  You may move the Court no later than Monday, August 27, 2018 to serve as a lead plaintiff for the entire Class.  However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.

If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact:  Robin Hester at rkh@federmanlaw.com

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