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.
San Diego, CA -- (SBWIRE) -- 03/16/2015 -- An investigation on behalf of current long-term investors in shares of MiMedx Group Inc (NASDAQ:MDXG) concerning potential breaches of fiduciary duties by certain directors and officers of MiMedx Group Inc was announced.
Investors who are current long-term stockholders in MiMedx Group Inc (NASDAQ:MDXG) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:MDXG stocks follows a lawsuit filed recently against MiMedx Group Inc over alleged securities laws violations. The investigation on behalf of current long term investors in 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 the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the defendants made allegedly false and/or misleading statements and/or failed to disclose that MiMedx Group Inc was in violation of federal regulations by engaging in improper marketing and sales practices, and that as a result of the foregoing, MiMedx Group Inc's statements were materially false and misleading at all relevant times.
On September 4, 2013, MiMedx Group Inc confirmed that it is in receipt of an "Untitled Letter" from the Food and Drug Administration ("FDA") in connection with MiMNedx Group Inc's Amnion / Chorion Injectable products' eligibility for marketing solely under Section 361 of the Public Health Service Act.
On Dec. 31, 2014 MiMedx Group Inc announced that it has received a subpoena from the Office of Inspector General ("OIG") of the Department of Health and Human Services ("HHS") in connection with a civil investigation into matters primarily related to the Company's sales and marketing activities. MiMedx Group Inc said it intends to cooperate fully with the government in its investigation, and the Company will attempt to expedite the process. The same day MiMedx Group Inc announced that it had filed a lawsuit against one of its competitors, Organogenesis, Inc. for allegedly tortious interference of contract, alleging that it had interfered with MiMedx Group Inc's dealings with the Veterans Administration. Within a matter of weeks, MiMedx Group Inc voluntarily dismissed the lawsuit.
Shares of MiMedx Group Inc (NASDAQ:MDXG) declined from $11.73 per share on December 31, 2014, to as low as $7.92 per share on February 2, 2015.
On March 12, 2015, NASDAQ:MDXG shares closed at $9.91 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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