Biotech Co. Defeats Investor Suit Over Short-Seller Reports
Law360 (November 23, 2020, 10:38 PM EST) -- A Utah federal judge granted a dismissal with prejudice on Sunday of claims that the biotechnology firm PolarityTE Inc. misled investors about patent rejections detailed in short-seller reports from 2017 and 2018.
U.S. District Judge Howard C. Nielson Jr. found that many of the various statements challenged as misleading by a putative investor class were either true when made or immaterial to investors, and that more broadly, the suit's claims relied on the theory that several short-seller reports about PolarityTE's registration with the U.S. Food and Drug Administration and patent failures were the corrective disclosures that alerted the market to the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!