An investigation on behalf of current long term investors in MiMedx Group Inc (NASDAQ:MDXG) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:MDXG stockholders should contact the Shareholders Foundation at firstname.lastname@example.org
San Diego, CA -- (SBWIRE) -- 09/25/2013 -- An investigation on behalf of current long-term investors in shares of MiMedx Group Inc (NASDAQ:MDXG) was announced concerning whether certain MiMedx directors and officers breached their fiduciary duties in connection with certain statements about its AmnioFix product.
Investors who are current long term stockholder in MiMedx Group Inc (NASDAQ:MDXG) shares, 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 for current long term investors in MiMedx Group Inc (NASDAQ:MDXG) stocks follows a lawsuit filed against MiMedx Group Inc over alleged securities laws violations. The investigation on behalf of current long term investors in MiMedx Group Inc (NASDAQ:MDXG) stocks concerns whether certain MiMedx Group officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that MiMedx Group Inc 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.
OnSeptember 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 24, 2013, NASDAQ:MDXG shares closed at $4.11 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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