This lawsuit is for anyone who acquired securities in MiMedx Group, Inc. (NASDAQ: MDXG) from March 7, 2013 through February 19, 2018.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, during the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company failed to disclose that it stuffed its channels of distribution, thereby overstating its revenue.
On September 7, 2017 Capitol Forum reported that, as part of the publication’s review of allegations of “channel stuffing” made by former MiMedx employees, it sent a request for information to the Veterans Affairs’ Office of the Inspector General under the FOIA but received a denial from the Veterans Affairs’ Office because, according to the Office, the Office is conducting an investigation of the Company. On this news, the price of the Company's stock dropped precipitously on unusually heavy trading volume. Then, on October 23, 2017, First Analysis published a report alleging that the Company has “excluded it (First Analysis) from asking questions on multiple calls while spending substantial time sparring with ‘short sellers’ and filing lawsuits.” On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume. Finally, on February 20, 2018, the Company announced it was postponing the release of its financial results for the year ended December 31, 2017 in order for the Company, "to conduct an internal investigation into current and prior-period matters relating to allegations regarding certain sales and distribution practices at the Company. Company executives are also reviewing, among other items, the accounting treatment of certain distributor contracts.” On this news, the price of the Company's stock again dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in MiMedx Group, Inc. (NASDAQ: MDXG) from March 7, 2013 through February 19, 2018 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
Join the Class Action
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I, the Plaintiff, certify that:
1. I have reviewed the Complaint and authorized its filing.
2. Plaintiff did not purchase the security that is the subject of this
action, at the direction of plaintiff's counsel or in order to
participate in any private action arising under this title.
3. I am willing to serve as a representative party on behalf of a class
and will testify at deposition and trial, if necessary.
4. My transactions in the securities, which are the subject of this
action, during the Class Period set forth in the Complaint are as
5. I have not served as a representative party on behalf of a class
under the federal security laws during the last three years, except
if detailed below.
6. I will not accept any payment for serving as a representative party,
except to receive my pro rata share of any recovery or as ordered
or approved by the court including the award to a representative
plaintiff of reasonable costs and expenses (including lost wages)
directly relating to the representation of the class.
agreement and retain the Law Offices of Howard G. Smith and its associates to proceed on Plaintiff's behalf, on a contingent fee basis. If I am executing this agreement on behalf of an institution, I further certify that I am authorized to execute this agreement on behalf of the institution.