On September 24, 2021, PolarityTE was sued for violations of the federal securities laws in the District of Utah on behalf of investors who purchased the Company’s securities between April 30, 2020 and August 23, 2021. On August 24, 2021, the Company disclosed that the Drug Application for its product, SkinTE, had been placed on hold by the U.S. Food and Drug Administration because certain Chemistry, Manufacturing, and Control items needed to be addressed prior to proceeding with a pivotal study.
Recent Security Class Actions
On September 24, 2021, AppHarvest was sued for violations of the federal securities laws in the Southern District of New York on behalf of investors who purchased the Company’s securities between May 17, 2021 and August 10, 2021. On August 11, 2021, the Company announced its 2Q 2021 financial results, disclosing a $32.0 million net loss and lowered its full year sales guidance to $7M to $9M, from a prior range of $20M to $25M, due to “operational headwinds with the ramp up to full production at the company’s first CEA facility, including labor and productivity challenges related to the training and development of the new workforce and historically low market prices for tomatoes.”
This action stems from a proposed transaction announced on January 4, 2021, pursuant to which Boston Private Financial Holdings, Inc. would merge into SVB Financial Group, Inc. ("SVB"), with SVB continuing as the surviving corporate entity.
Virgin Galactic Holdings, Inc. is an integrated aerospace company that develops human spaceflight for private individuals and researchers in the U.S.
Nutanix, Inc. purports to be a cloud computing software company headquartered in San Jose, California known for pioneering its “core” hyper-converged infrastructure (“HCI”) software technology, which combines the components of data center computing (server, storage, and virtualization) into a single scalable machine through software.
Nuance Communications, Inc. is a pioneer and a leading provider of conversational AI and cloud-based ambient clinical intelligence for healthcare providers. Nuance’s products include the Dragon Ambient eXperience, Dragon Medical One and PowerScribe One for radiology reporting, all leading clinical speech recognition SaaS offerings built on Microsoft Azure.
Houston Wire & Cable Company is a large provider of wire and cable and fastener products in the U.S. market.
GW Pharmaceuticals, PLC is a biopharmaceutical company focused on discovering, developing, and commercializing novel therapeutics from their proprietary cannabinoid product platform in a broad range of disease areas. GW commercialized the world’s first plant-derived cannabinoid prescription drug, Sativex, which is approved for the treatment of spasticity due to multiple sclerosis in 25 countries. The Company has two primary, more developed products: Epidiolex and Nabiximols (Sativex). GW also has a deep pipeline of additional cannabinoid product candidates and novel compounds, including compounds in Phase 1, Phase 2, and Phase 3 trials.
PRA Health Sciences, Inc. is one of the world’s leading global contract research organizations (“CRO”).
Washington Prime Group, Inc. is a self-managed and self-administered real estate investment trust (“REIT”) that owns properties and conducts operations through Washington Prime Group, L.P.
