SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Lightwave Logic, Inc. – LWLG – Press Release
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NEW YORK, June 04, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of Lightwave Logic, Inc. (“Lightwave” or the “Company”) LWLG. Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Lightwave and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On June 2, 2022, Kerrisdale Capital published a report entitled “Lightwave Logic, Inc. (LWLG): A High-Frequency Failure” (the “Kerrisdale Report”). The Kerrisdale Report alleged, among other things, that “[u]nderneath [the Company’s] façade of accomplishment . . . is almost nothing of substance” and that “Lightwave hasn’t ever come close to commercializing anything: in the 15 years since it’s gone public, it has generated a total of about $6 thousand in revenues, which stands in stark contrast to the steady stream of promotional announcements celebrating overhyped prototype completions, product tests, and patents over that time.” Kerrisdale also asserted that “[t]he most damning detail . . . about Lightwave’s commercialization efforts is that no one knows how to consistently produce its proprietary polymer” and that “[t]he implication is that even the mediocre devices Lightwave says it has built and tested are one-off productions that can’t be replicated systematically.” On this news, Lightwave’s stock price fell sharply during intraday trading on June 2, 2022.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
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