NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into MiMedx Group, Inc. (NASDAQ: MDXG).
On December 15, 2016, a lawsuit was filed against MiMedx and its CEO Parker Petit by two former employees, alleging that, since 2014, the Company engaged in a fraudulent revenue recognition scheme orchestrated by MiMedx’s executive leadership, including Petit, in order to artificially inflate quarterly revenue and deceive investors. The lawsuit further alleged that, when the former employees internally reported and opposed the fraud, they were immediately retaliated against with threats, intimidation, and termination after a retaliatory investigation.
KSF’s investigation is focusing on whether MiMedx’s officers and/or directors breached their fiduciary duties to MiMedx’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of MiMedx shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.