Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, June 27, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Apyx Medical Corporation (NASDAQ: APYX) investors that the firm has initiated an investigation into possible securities fraud and may file a class action on behalf of investors. Apyx investors that lost money on their investment are encouraged to contact Lesley Portnoy, Esq.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
According to the complaint, between May 12, 2021 and March 11, 2022, defendants failed to disclose to investors that a significant number of Apyx’s Advanced Energy products were used for off-label indications and that such off-label uses led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events. As a result, the Company was reasonably likely to incur regulatory scrutiny, which would adversely impact its financial results.
On March 14, 2022, Apyx disclosed that the FDA would be posting a Medical Device Safety Communication (“MDSC”) related to the Company’s Advanced Energy Products. The Company further disclosed that “[b]ased on our initial interactions with the FDA, we believe the Agency’s MDSC will pertain to the use of our Advanced Energy products outside of their FDA-cleared indication for general use in cutting, coagulation, and ablation of soft tissue during open and laparoscopic surgical procedures.” On this news, the Company's stock fell $4.02, or over 40%, to close at $5.66 per share on March 14, 2022.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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