Thinly traded micro cap PolarityTE (PTE -13.4%) slumps on almost 25% higher volume in apparent response to its disclosure that, on March 4, it received a formal order of investigation from the SEC concerning possible violations of federal securities laws (2018 annual report, page 48).
On September 7, 2018, the SEC filed a complaint in a New York court accusing former CFO and CIO Barry Honig, the owner of 5% of PolarityTE, of manipulating the price of three public companies (not including PolarityTE), amended on March 8.
PolarityTE received an SEC subpoena on March 1 requesting additional documents related to communications between the company and others, including Mr. Honig, Johns Stetson and Michael Brauser, the Majesco transaction, its current regenerative medicine business, including SkinTE, and any promotion of the company or its securities.
Previously: SEC charges Frost and Honig with stock promotion schemes; OPKO down 18% (Sept. 7, 2018)
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