Biotech Co. Didn't Disclose Rejected Patent, Investors Say

Law360 (July 9, 2018, 6:37 PM EDT) -- PolarityTE Inc. closed on a $104 million deal to buy a pending patent covering skin regeneration technology without telling investors that the U.S. Patent and Trademark Office had rejected the patent application, a potential class of shareholders have told a Utah federal court.

Inventor Denver Lough had received a nonfinal notice that his patent was going to be rejected on March 31, 2017, a week before the deal closed, investor Yedid Lawi said Friday. However, shareholders didn't find out about the patent failure until it was disclosed in a Citron Research report more than a year later, causing PolarityTE's stock to...

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!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!