LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Northern District of Georgia, on behalf of persons and entities that acquired MiMedx Group Inc. (“MiMedx” or the “Company”) (NASDAQ: MDXG) securities between March 7, 2013, and February 19, 2018, inclusive (the “Class Period”), asserting claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
Investors are hereby notified that they have April 24, 2018 to move the Court to serve as lead plaintiff in this action.
Investors suffering losses on their MiMedx investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights at 310-201-9150 or by email to email@example.com, or visit the MiMedx case page on our website at www.glancylaw.com/case/mimedx-group-inc-0.
The complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) MiMedx was engaged in a “channel-stuffing” scheme designed to inappropriately recognize revenue that had not yet been realized; (2) that the Company failed to employ proper compliance measures to ensure appropriate accounting practices; (3) that, as a result, the Company’s internal controls over financial reporting were materially weak; (4) that, as a result, the Company’s financial statements were inaccurate and misleading; and, (5) that, as a result of the foregoing, Defendants’ statements about MiMedx’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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If you purchased MiMedx securities during the Class Period, you may move the Court no later than April 24, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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