EQUITY ALERT Levi & Korsinsky, LLP Reminds Shareholders of MiMedx Group Inc. of Commencement of a Class Action Lawsuit and a Lead Plaintiff Deadline of April 25, 2018
The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of MiMedx Group Inc. ("MiMedx") (NASDAQ: MDXG) between March 7, 2013 and February 21, 2018. You are hereby notified that a securities class action lawsuit has been commenced in the USDC for the Southern District of New York. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that throughout the class period Defendants issued materially false and/or misleading statements and/or failed to disclose that: (i) MiMedx was engaged in a “channel-stuffing” scheme designed to inappropriately recognize revenue that had not yet been realized; (ii) the Company lacked adequate internal controls over financial reporting; and (iii) that as a result of the foregoing, MiMedx’s publicly disseminated financial statements were materially false and misleading.
On February 20, 2018, MiMedx announced that it would postpone the release of its financial results and Form 10-K filing for 2017. MiMedx stated it had engaged “independent legal and accounting advisors to conduct an internal investigation into current and prior-period matters relating to the allegations regarding certain sales and distribution practices at the Company.” Following this news, shares of MiMedx fell from a close of $14.47 per share on February 16, 2018 to a close of $8.75 on February 20, 2018.
If you suffered a loss in MiMedx you have until April 25, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation, and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.