Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Aug. 01, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Apyx Medical Corporation (“Apyx” or the “Company”) (NASDAQ: APYX) investors that a class action has been filed on behalf of investors. Investors that purchased Apyx shares between May 12, 2021 and March 11, 2022, inclusive (the “Class Period”) 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.
Apyx claims to be an advanced energy technology company with products in the cosmetic and surgical markets. Nearly 80% of the Company’s revenue is derived from the Advanced Energy segment, which consists of Apyx’s helium plasma technology that is marketed and sold as Renuvion (in the cosmetic surgery market) and J-Plasma (in the hospital surgical market).
Plaintiff alleges that Defendants made materially false and misleading statements throughout the Class Period. Specifically, Plaintiff alleges that Defendants failed to disclose that: (1) a significant number of Apyx’s Advanced Energy products were used for off-label indications; (2) such off-label uses led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events; (3) as a result, the Company was reasonably likely to incur regulatory scrutiny; and (4) as a result of the foregoing, the Company’s financial results would be adversely impacted.
On March 14, 2022, Apyx disclosed that the U.S. Food and Drug Administration (“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 over 40%, to close at $5.88 per share on March 14, 2022.
Please visit our website to review more information and submit your transaction information.
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
Attorney Advertising
