NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased MiMedx Group Inc. ("MiMedx") (NASDAQ: MDXG) securities between March 7, 2013 and February 19, 2018.
Click here to learn about the case: http://www.wongesq.com/pslra-c/mimedx-group-inc?wire=2. There is no cost or obligation to you.
According to the complaint, throughout the Class Period, the Company issued materially false and 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 the year ended December 31, 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. To obtain additional information, contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.425.1140, or visit http://www.wongesq.com/pslra-c/mimedx-group-inc?wire=2.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.