NEW YORK, Feb. 27, 2015 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a class action lawsuit has been commenced in United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of MiMedx Group, Inc. ("MiMedx" or the "Company") (Nasdaq: MDXG ) between February 26, 2014 and December 31, 2014, inclusive (the "Class Period"). Investors with significant losses are encouraged to contact us immediately at (800) 575-0735 or email classmember@whafh.com .
MiMedx is a developer, manufacturer and marketer of patent protected, regenerative biomaterial products and allografts processed from human amniotic membranes. The Company sells its products directly, as well as through a network of third party sales agents and stocking distributors in the United States and internationally.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company was in violation of federal regulations by engaging in improper marketing and sales practices; and (2) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times. As a result of defendants' false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on December 31, 2014, after the close of trading, the Company issued a press release announcing the receipt of a civil subpoena from the Office of Inspector General of the Department of Health and Human Services.
On this news, shares in MiMedx dropped more than 15%, closing at $9.74 per share on January 2, 2015, on unusually heavy trading volume of over 5.4 million shares.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has over 70 attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman & Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com . All e-mail correspondence should make reference to the "MiMedx investigation."
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Wolf Haldenstein Adler Freeman & Herz LLP Patrick Donovan or Gregory Stone Email: , or Tel: (800) 575-0735 or (212) 545-4774
