BOSTON--(BUSINESS WIRE)--Berman Tabacco (www.bermantabacco.com), a national law firm representing investors, is investigating possible securities law violations involving MiMedx Group, Inc. (NASDAQ: MDXG) (“MiMedx” or the “Company”).
On February 23, 2018, a lawsuit styled, MacPhee v. MiMedx Group, Inc., et al., Case No. 1:18-cv-00830-ELR, was filed on behalf of “all investors who purchased or otherwise acquired Defendant MiMedx Group, Inc. common stock between March 7, 2013 and February 19, 2018” in the United States District Court for the Northern District of Georgia against MiMedx and certain senior managers. The complaint alleges, among other things, that “Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants made 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.” The complaint seeks remedies under Section 10(b) and 20(a) of the Securities Exchange Act of 1934.
Pursuant to the Private Securities Litigation Reform Act of 1995, investors seeking to serve as the lead plaintiff are required to file a motion for appointment with the Court no later than April 24, 2018.
If you would like more information regarding this investigation, or if you wish to share information about the investigation, you may contact Jennifer J. Sosa, Esq., of Berman Tabacco at (800) 516-9926 or by email at email@example.com.
Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by violations of securities and antitrust laws. The firm has 34 lawyers in Boston and San Francisco.