BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of AxoGen, Inc. investors (“AxoGen” or the “Company”) (NASDAQ: AXGN) concerning the Company and its officers’ possible violations of federal securities laws.
The investigation concerns whether AxoGen or its executives issued materially misleading business information to the investing public. On December 18, 2018, Seligman Investments issued a report stating, among other things, that "[a] number of former [AxoGen] employees allege channel stuffing [at AxoGen], given that the company's consignment model creates potential for abuse, as well as alleging questionable revenue recognition practices." Specifically, the report states that "allegations additionally include misleading operating metrics, with one former rep implying that the company's definition of 'active accounts' may overstate the actual number by a factor of ten." On this news, shares of AxoGen fell $6.17 per share or approximately 22% to close at $21.36 per share on December 18, 2018, thereby damaging investors.
If you purchased AxoGen, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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