PolarityTE (NSDQ:PTE) this week revealed that it is the target of an SEC investigation into possible violations of federal securities laws.
The Salt Lake City, Utah-based company said that it received a copy of a formal order of investigation from the SEC on March 4, exploring possible violations of fraud and price manipulations, according to an SEC filing.
PolarityTE said that it plans to fully cooperate with the SEC during its ongoing investigation.
The new investigation follows a previous SEC investigation into possible fraud and manipulative trading levied against PolarityTE’s former CFO John Stetson and former chief investment officer Mary Honig. The company specified that the previous investigations did not involve manipulation of the company’s stock, but of three other publicly traded companies.
Just before it received its own notice of investigation in March, PolarityTE said it received a subpoena from the SEC requesting additional information related to its investigation into Stetson, Honig and others, according to the SEC filing.
Last December, PolarityTE said that it registered its OsteoTE bone repair product with the FDA.
