![]() ![]() ![]() We have the utmost respect for the SEC and its investigative process, and we are of course pleased with the closure of this investigation. PolarityTE CEO David Seaburg said, "We have worked hard over the past year and a half to cooperate fully with the SEC and to produce materials responsive to their requests. In an April 8 news release, PolarityTE said it had received correspondence from the SEC stating the agency has concluded its investigation relating to a range of securities, financial, personnel and other matters and will not be recommending enforcement action against the company. PolarityTE fired Stetson a day after the SEC made the allegations. In its complaint, the SEC alleged that the charged individuals artificially drove up the price of certain stocks and then "dumped" their shares to make a profit off "unsuspecting investors." The SEC said the group made more than $27 million in stock sales from the schemes, which ran from 2013 to 2018. From a small piece of healthy autologous tissue, the company creates an easily deployable, dynamic, and self-propagating product designed to regenerate the target tissues. The list included Salt Lake City, Utah-based PolarityTE's ex-CEO, John Stetson and Opko Health Inc.'s chairman and CEO Phillip Frost, along with several associated companies. PolarityTE manufactures products from the patients own tissue and uses the patients own body to support the regenerative process. ![]() In September 2018, the SEC charged 10 individuals with fraud. Get real-time PolarityTE (PTE) stock price quotes, analyst insights, forecasts, news, and information you need to help your stock trading and investing. Securities and Exchange Commission completed an investigation launched in the wake of an alleged market manipulation scheme involving the biotech's former CEO and will not recommend enforcement action against the company. ![]()
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