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 violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent 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 “underneath the façade of accomplishment … is almost nothing of substance.” The report continues, “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.” The report alleges that “Lightwave’s polymer ‘technology’ is behind the curve and the feasibility of a manufacturing process to commercialize it may never be achieved.” Based on this news, shares of Lightwave dropped by nearly 12.5% on the same day.
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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 take no action, you can remain an absent class member.
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