MiMedx Internal Probe Finds Ex-CEO Secretly Videoed Workers
- Board concludes 15-month internal inquiry into accounting
- It describes surveillance effort dubbed ‘Project Snow White’
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MiMedx Group Inc. accused former managers of deception and said ex-Chief Executive Officer Parker H. Petit ordered the installation of a secret surveillance system to counter whistle-blowers.
The biotech company said Petit and three other top executives misled the board and auditors about business and accounting matters on several occasions, according to a summary of findings from a 15-month internal probe made public Thursday. MiMedx, which previously announced it will restate earnings from 2012 to 2017, also said it uncovered conduct apparently designed to manipulate how the firm accounted for some revenue.