Ryan & Maniskas, LLP Files Securities Fraud Class Action Against MiMedx Group,
WAYNE, Pa., Sept. 26, 2013
WAYNE, Pa., Sept. 26, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP announces
that it has filed a securities fraud class action lawsuit in the United States
District Court for the Southern District of New York against MiMedx Group,
Inc. ("MiMedx" or the "Company") (NASDAQ: MDXG) on behalf of investors who
purchased or otherwise acquired the common stock of the Company during the
period from October 26, 2011 through September 4, 2013 (the "Class Period").
(Logo: http://photos.prnewswire.com/prnh/20121112/MM11729LOGO )
For more information regarding this class action suit, please contact Ryan &
Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by
email at email@example.com or visit: www.rmclasslaw.com/cases/mdxg.
MiMedx is a developer, manufacturer and marketer of patent protected
regenerative biomaterial products and allografts process 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 brings forth claims for violations of the Securities Exchange
Act of 1934. The Complaint alleges that throughout the Class Period,
Defendants made false and/or misleading statements, as well as failed to
disclose material adverse facts about the Company's business, operations, and
prospects. Specifically, Defendants made false and/or misleading statements
and/or failed to disclose that: (1) the Company was in violation of the Public
Health Service Act by unlawfully manufacturing and marketing certain
unapproved biologics products; and (2) as a result of the foregoing, the
Company's statements were materially false and misleading at all relevant
On September 4, 2013, the Food and Drug Administration ("FDA") posted on its
website an "Untitled Letter" sent to MiMedx on August 28, 2013, which stated
that MiMedx's Surgical Biologics unit violated the Public Health Service Act
by unlawfully manufacturing and marketing drugs at one of its plants, thereby
marketing unapproved biologics products. On this news, MiMedx securities
declined $2.21 per share or more than 36%, to close at $3.85 per share on
September 4, 2013.
If you are a member of the class, you may, no later than November 8, 2013,
request that the Court appoint you as lead plaintiff of the class. A lead
plaintiff is a representative party that acts on behalf of other class members
in directing the litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member's claim is typical of the claims of
other class members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may together
serve as "lead plaintiff." Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead plaintiff.
You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve
as your counsel in this action.
For more information regarding this, please contact Ryan & Maniskas, LLP
(Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at
firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/mdxg. For more
information about class action cases in general or to learn more about Ryan &
Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan &
Maniskas, LLP is devoted to protecting the interests of individual and
institutional investors in shareholder actions in state and federal courts
CONTACT: Ryan & Maniskas, LLP
Richard A. Maniskas, Esquire
995 Old Eagle School Rd., Suite 311
Wayne, PA 19087
SOURCE Ryan & Maniskas, LLP
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