An investigation for investors in MiMedx Group Inc (NASDAQ:MDXG) shares over potential securities laws violations by MiMedx Group was announced and NASDAQ:MDXG stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 09/09/2013 -- An investigation on behalf of investors of MiMedx Group Inc (NASDAQ:MDXG) shares over potential securities laws violations by MiMedx Group Inc and certain of its directors and officers in connection certain financial statements was announced .
Investors who purchased shares of MiMedx Group Inc (NASDAQ:MDXG) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of MiMedx Group Inc (NASDAQ:MDXG) concerning whether a series of statements by MiMedx Group regarding its business, its prospects and its operations were materially false and misleading at the time they were made. More specifically, the investigation concerns whether MiMedx's Surgical Biologics unit violated the Public Health Service Act by unlawfully manufacturing drugs at one of its plants, and thereby marketed unapproved biologics products.
MiMedx Group Inc reported that its annual Total Revenue increased from On$7.76 million in 2011 to $27.05 million in 2012 and that its respective Net Loss declined from $10.19 million to $7.66 million.
Shares of MiMedx Group Inc (NASDAQ:MDXG) grew from $1.15 per share in March 2012 to as high as $7.72 per share in May 2013.
Then on September 4, 2013, MiMedx Group Inc confirmed that it is in receipt of an "Untitled Letter" from the Food and Drug Administration ("FDA"). MiMedx Group Inc said that the letter questions the Company's Amnion / Chorion Injectable products' eligibility for marketing solely under Section 361 of the Public Health Service Act. MiMedx Group Inc stated that according to the FDA”s website an "Untitled Letter is an initial correspondence with regulated industry that cites violations that do not meet the threshold of regulatory significance for a Warning Letter."
Shares of MiMedx Group Inc (NASDAQ:MDXG) dropped from $6.20 per share to as low as $2.20 per share on September 4, 2013.
Those who purchased shares of MiMedx Group Inc (NASDAQ:MDXG), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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