Goodman & Nekvasil, P.A., May Recover Investor Losses – MiMedx Group, Inc. (MDGX)
MiMedX Group, Inc. (MDGX) describes itself as a biopharmaceutical company developing, manufacturing and marketing regenerative biologics utilizing human placental allografts for multiple sectors of healthcare. MiMedx Group, Inc. (MGDX) claims that “Innovations in Regenerative Medicine” is the framework behind our mission to provide physicians with products and tissues to help the body heal itself.
Publicly available reports indicate that a lawsuit has been filed on behalf of investors in MiMedx Group, Inc. (MDGX) The filed complaint alleges that throughout the Class Period, MiMedx Group, Inc. (MDGX) made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the complaint alleges that MiMedx Group, Inc. made false and/or misleading statements and/or failed to disclose that:
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MiMedx Group, Inc. (MDGX) engaged in a “channel-stuffing” scheme designed to inappropriately recognize revenue that had not yet been realized
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MiMedx Group, Inc. (MDGX) failed to disclose its financial ties to physicians, as required by federal law;
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the Company lacked adequate internal controls over financial reporting; and
- as a result of the foregoing, MiMedx Group, Inc. (MDGX) shares traded at artificially inflated prices during the Class Period, and class members suffered significant losses and damages.
The complaint further alleges that two former employees of MiMedx Group, Inc. (MDGX) filed a complaint against the Company, alleging, among other things, retaliatory termination by MiMedx after reporting fraudulent revenue recognition practices (defined herein as the “Whistleblower Action”). In particular, those employees alleged that MiMedx Group, Inc. (MDGX) had engaged in a “channel-stuffing scheme” to “fraudulently recognize revenue [purportedly earned under its distribution agreement with AvKARE] in its certified financial statements before the revenue had been realized or realizable and earned.”
Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, continues to investigate brokerage firms that placed elderly retirees and other conservative investors in high-risk investments such as MiMedx Group, Inc. (MDGX).
Goodman & Nekvasil, P.A., has filed hundreds of cases against brokerage firms selling high-risk investments such as MiMedx Group, Inc. (MDGX) and has recovered more than $180 million dollars on behalf of victimized investors. We allege in these cases that these investment recommendations were unsuitable for our clients in view of their financial situation, needs and investment objectives. All our cases are handled on a purely contingency fee basis.
You may have the right to recover your losses from the brokerage firm that sold MiMedx Group, Inc. (MDGX) and other high-risk investments to you. We strongly recommend that you act quickly, however, because statutes of limitation can be short in securities cases.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. We would like to discuss the possibility of your retaining our firm to represent you in an arbitration action.
There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf. Finally, the filing of such a case should not affect your ownership of these investments in any way.
If you incurred losses on your investment in MiMedx Group, Inc. (MDGX) and/or other high-risk investments and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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