Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of MiMedx Group, Inc. (NASDAQ CM: MDXG)?
- Did you purchase your shares before March 7, 2013, or between March 7, 2013 and September 4, 2013, inclusive?
- Did you lose money in your investment in MiMedx Group, Inc.?
- Do you want to discuss your rights?
According to the Complaint, on September 4, 2013, the FDA posted an “Untitled Letter,” dated August 28, 2013, on its website describing regulatory violations committed by the Company. The letter concerned MiMedx’s amniotic/chorionic-based products, including AmnioFix Injectable, AccelShield Injectable, and EpiFix Injectable, all of which are intended for use in reducing inflammation and scar tissue formation, as well as for enhancing soft tissue wound healing. Among other things, the Untitled Letter stated that because these products were micronized, they were drugs. And since MiMedx did not possess a valid biologics license, the Untitled Letter concluded that the Company was unable to lawfully market its products.On this news, shares in MiMedx dropped more than 36%, closing at $3.85 per share on September 4, 2013, on unusually heavy trading volume of over 4.8 million shares. If you wish to serve as lead plaintiff, you must move the Court no later than November 8, 2013. A lead plaintiff is a representative party acting 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. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.