CURRENT SHAREHOLDERS: Zamansky LLC Investigates PolarityTE (COOL) for Potential Breaches of Fiduciary Duties
08 August 2018 - 6:35AM
Business Wire
Zamansky LLC announces that it is investigating PolarityTE, Inc.
(NasdaqCM: COOL)(“PolarityTE” or the “Company”) for potential
breaches of fiduciary duties by the Board of Directors to current
shareholders. If you are a shareholder of PolarityTE who still
holds your shares, please contact our firm for information.
On June 28, 2018, an investor filed a securities fraud class
action lawsuit against PolarityTE in Utah federal district court.
The lawsuit alleges that, in April 2017, the Company entered into
an agreement to acquire a patent application from Dr. Denver Lough,
its CEO, in exchange for stock, even though Dr. Lough had received
non-final notice of the rejection of the patent week earlier. The
lawsuit alleges that the Company also never disclosed the non-final
patent rejection for nearly a year, and recently even registered to
issue new stock to investors.
According to Jake Zamansky, investment fraud attorney,
PolarityTE’s officers and directors owe their shareholders
fiduciary duties. The accusations raise issues of potential concern
for investors, Zamansky says. Our law firm is investigating whether
the officers and directors breached their duties to shareholders,
he says.
What PolarityTE Shareholders Can Do
If you are a current shareholder of PolarityTE who purchased
before March 2017, and who still holds your stock, please contact
us to review or discuss your legal rights. You may, without
obligation or cost to you, email jake@zamansky.com or call the law
firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with
experience handling securities, hedge fund, ERISA and other
shareholder class action and derivative litigation. We are
investment fraud attorneys who represent both individual and
institutional investors. Our practice is nationally recognized for
our ability to aggressively prosecute cases and recover investment
losses.
To learn more about Zamansky LLC, please visit our website,
http://www.zamansky.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180807005698/en/
Zamansky LLCJake Zamansky, 212-742-1414jake@zamansky.com
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