LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Lightwave Logic, Inc. (“Lightwave” or “the Company”) ( NASDAQ: LWLG) for violating securities laws.
The investigation aims to determine whether the Company has made false and/or misleading statements and/or has failed to disclose relevant information to investors. Lightwave is the subject of a research report published by Kerrisdale Capital on June 2, 2022. The report, titled: “Lightwave Logic, Inc. (LWLG): A High-Frequency Failure”, alleges that “under the facade of the Accomplishment… is almost nothing of substance. The report continues, “Lightwave was never close to commercializing anything: in the 15 years since its IPO, it generated a total of approximately $6,000 in revenue, which contrasts sharply with the steady stream of promotional announcements celebrating prototype completions, product testing, and overhyped patents during this period. The report alleges that “Lightwave’s polymer ‘technology’ is overdue and the feasibility of a manufacturing process to commercialize it may never be achieved.” Based on this news, shares of Lightwave fell almost 12.5% on the same day.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us via the firm’s website at www.schallfirm.com or by e-mail at [email protected]
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to do nothing, you can remain an absent member of the group.
Schall Law Firm represents investors worldwide and specializes in securities class action and shareholder rights litigation.
This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethical requirements.