INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Organogenesis Holdings Inc. (ORGO) Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Organogenesis Holdings Inc. (“Organogenesis” or the “Company”) (NASDAQ: ORGO) securities between March 17, 2021 and October 11, 2021, inclusive (the “Class Period”). Organogenesis investors have until February 8, 2022 to file a lead plaintiff motion.

Investors suffering losses on their Organogenesis investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [e-mail].

On October 12, 2021, an anonymous report was published on Value Investors Club, a website for investors to share ideas. The report alleged that Organogenesis has been improperly billing the federal government for $250 million annually. It also claimed that the Company had priced its new wound covering product, Affinity, “exorbitantly high” – and since Medicare reimburses for the product, the high prices make it lucrative for doctors to use through large rebates. The report claimed that Organogenesis was using a similar pricing tactic for its new PuraPly XT product.

On this news, Organogenesis’ stock fell $1.70, or 14%, to close at $10.35 per share on October 12, 2021, thereby injuring investors.

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 to investors that: (i) Organogenesis improperly billed the federal government for its Affinity and PuraPly XT products by, among other things, setting the price for those products multiple times higher than similar products; (ii) the Company improperly induced doctors to use its Affinity and PuraPly XT products through lucrative reimbursements; (iii) as a result of all the foregoing, the Company’s revenue and profits derived from its Affinity and PuraPly XT products were at least in substantial part unsustainable; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

If you purchased Organogenesis securities, 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 [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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