Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against MiMedx Group, Inc.
Oklahoma City, OK (February 24, 2015) – On February 19, 2015, a securities class action lawsuit was filed in the United States District Court for the Southern District of New York against MiMedx Group, Inc. (NASDAQ: MDXG). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is February 26, 2014 through December 31, 2014. More specifically, this litigation was filed because the Company (1) 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 false and misleading during the Class Period.
On December 31, 2014, after the closed of trading, MiMedx Group announced in a press release the receipt of a civil subpoena from the Office of Inspector General of the U.S. Department of Health and Human Services in connection with an investigation of the MiMedx’s sales and marketing activities. On this news, MiMedx Group shares declined to close at $9.74 per share on the next trading day, January 2, 2015.
Plaintiff seeks to recover damages on behalf of all MiMedx Group, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, April 20, 2015 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to firstname.lastname@example.org, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.