MIMEDX GROUP LEAD PLAINTIFF ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In MiMedx Group, Inc. To Contact The Firm

NEW YORK, April 04, 2018 -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in MiMedx Group, Inc. (“MiMedx” or the “Company”) (NASDAQ:MDXG) of the April 25, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in MiMedx stock or options between March 7, 2013 and February 19, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/MDXG.  There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. 

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26^th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
[email protected]
Telephone: (877) 247-4292 or (212) 983-9330

The lawsuit has been filed in the U.S. District Court for the Northern District of Georgia on behalf of all those who purchased MiMedx common stock between March 7, 2013 and February 19, 2018 (the “Class Period”).  The case, MacPhee v. MidMex Group, Inc. et al, No. 1:18-cv-00830 was filed on February 23, 2018 and has been assigned to Judge Eleanor Louise Ross.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) MiMedx was engaged in a “channel-stuffing” scheme designed to inappropriately recognize revenue that had not yet been realized; (2) MiMedx lacked adequate internal controls over financial reporting; and (3) as a result, MiMedx’s publicly disseminated financial statements were materially false and/or misleading.

Specifically, on February 20, 2018, MiMedx disclosed an “internal investigation into current and prior-period matters relating to allegations regarding certain sales and distribution practices at the Company” and that “Company executives are also reviewing, among other items, the accounting treatment of certain distributor contracts.”  As a result of the aforementioned internal investigation, the Company announced that it would delay the release of its fourth quarter and fiscal year 2017 financial results.

On this news, MiMedx’s share price fell from $14.47 per share on February 16, 2018 to a closing price of $8.75 on February 20, 2018—a $5.72 or a 39.53% drop.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative 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. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. 

Faruqi & Faruqi, LLP also encourages anyone with information regarding MiMedx’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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