A lawsuit was filed on behalf of investors in MiMedx Group Inc (NASDAQ:MDXG) shares over alleged securities laws violations. Deadline: November 8, 2013. NASDAQ:MDXG investors should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 09/11/2013 -- An investor, who purchased shares of MiMedx Group Inc (NASDAQ:MDXG), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by MiMedx Group Inc in connection with certain allegedly false and misleading statements made between March 15, 2013 and September 4, 2013.
Investors who purchased a significant amount of shares of MiMedx Group Inc (NASDAQ:MDXG) between March 15, 2013 and September 4, 2013, and / or those who purchased NASDAQ:MDXG shares prior to March 2013 and currently hold any of those shares, have certain options and for certain investors are short and strict deadlines running. Deadline: November 8, 2013. NASDAQ:MDXG investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint the plaintiff alleges, on behalf of all persons or entities who purchased or otherwise acquired securities of MiMedx Group Inc (NASDAQ:MDXG) between March 15, 2013 and September 4, 2013, that MiMedx Group Inc and certain of its officers violated the Securities Exchange Act of 1934.
More specifically, the plaintiff alleges that the defendants issued between March 15, 2013 and September 4, 2013 materially allegedly false and misleading statements about whether its AmnioFix product required U.S. Food and Drug Administration approval to be manufactured and marketed.
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.
On September 10, 2013, NASDAQ:MDXG shares closed at $3.93 per share.
Those who purchased shares of MiMedx Group Inc (NASDAQ:MDXG), have certain options and should contact the Shareholders Foundation.
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