MiMedx Group, Inc. (NASDAQ: MDXG)Thu, 09/05/2013 - 15:25 — Webmaster
Ryan & Maniskas, LLP that a class action lawsuit has been filed in United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of MiMedx Group, Inc. (NASDAQ: MDXG) between February 26, 2014 and December 31, 2014, inclusive (the "Class Period").Join the class action
Ryan & Maniskas, LLP that a class action lawsuit has been filed in United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of MiMedx Group, Inc. ("MiMedx" or the "Company") (NASDAQ: MDXG) between February 26, 2014 and December 31, 2014, inclusive (the "Class Period").
MiMedx shareholders may, no later than April 20, 2015, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of MiMedx and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/mdxg.
MiMedx is a developer, manufacturer and marketer of patent protected regenerative biomaterial products and allografts process from human amniotic membranes. The Company sells its products directly, as well as through a network of third party sales agents and stocking distributors in the United States and internationally.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company was in violation of federal regulations by engaging in improper marketing and sales practices; and (2) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times. As a result of defendants' false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on December 31, 2014, after the close of trading, the Company issued a press release announcing the receipt of a civil subpoena from the Office of Inspector General of the Department of Health and Human Services. Moreover, the Company announced the same day that it has filed a federal tortious interference lawsuit against one of its competitors for tortious interference of contract, alleging that it had interfered with MiMedx's dealings with the Veterans Administration.
On this news, shares in MiMedx dropped more than 15%, closing at $9.74 per share on January 2, 2015, on unusually heavy trading volume of over 5.4 million shares.
If you are a member of the class, you may, no later than April 20, 2015, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.