NEW YORK, Jan. 31, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of AxoGen, Inc. (“AxoGen or the “Company”) (NASDAQ: AXGN). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether AxoGen and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 18, 2018, Seligman Investments reported that “[a] number of former [AxoGen] employees allege channel stuffing [at AxoGen], given that the company’s consignment model creates potential for abuse, as well as alleging questionable revenue recognition practices.” The article continued to state that “allegations additionally include misleading operating metrics, with one former rep implying that the company’s definition of ‘active accounts’ may overstate the actual number by a factor of ten.”
Following this news, AxoGen stock dropped $6.17 per share, or roughly 22%, to close at $21.36 on December 18, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com .
CONTACT: Robert S. Willoughby Pomerantz LLP rswilloughby@pomlaw.com 888-476-6529 ext. 9980
