SAN DIEGO, Sept. 16, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of MiMedx Group Inc (MDXG) common stock 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 shares of MiMedx Group Inc (MDXG) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779-1554.
The plaintiff alleges on behalf on behalf of all persons or entities, who purchased or otherwise acquired securities of MiMedx Group Inc (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.
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 (MDXG) declined from $6.20 per share to as low as $2.20 per share on September 4, 2013.
The plaintiff seeks to recover damages.
Those who purchased shares of MiMedx Group Inc (MDXG) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.