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Westlaw News

Utah biotech company wins dismissal of shareholder lawsuit

A federal judge has dismissed a shareholder lawsuit accusing Salt Lake City, Utah-based biotech company PolarityTE Inc of misleading investors about the prospects of its regenerative skin tissue product.

U.S. District Judge Howard Nielson in Utah on Sunday said the company had not made any material misrepresentations, finding investors’ allegation that it falsely said SkinTE was “patented” and later failed to disclose that its patent application was denied did not support a claim of securities fraud.

To read the full story on Westlaw Today, click here: bit.ly/3nOyDs2

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