| COMPANY |
MiMedx Group Inc. |
| COURT |
United States District Court for the Northern District of Georgia |
| CASE NUMBER |
18-cv-00830 |
| JUDGE |
Honorable William McCrary Ray II |
| CLASS PERIOD |
March 7, 2013 through June 29, 2018 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a federal securities fraud class action lawsuit brought on behalf of those who purchased or otherwise acquired MiMedx Group Inc. (“MiMedx” or the “Company”) (NASDAQ: MDXG) common stock between March 7, 2013 and June 29, 2018, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) MiMedx was engaged in a "channel-stuffing" scheme designed to inappropriately recognize revenue that had not yet been realized; (2) the Company lacked adequate internal controls over financial reporting; and (3) as a result of the foregoing, MiMedx's publicly disseminated financial statements were materially false and misleading.
Current Status of Case:
Defendants filed a Motion to Dismiss the Amended Complaint on May 29, 2020, which the Court granted on March 25, 2021. On February 25, 2022, Lead Plaintiffs filed a Notice of Appeal to the United States Court of Appeals for the Eleventh Circuit. On July 10, 2023, the Eleventh Circuit affirmed in part and vacated in part the Order dismissing the case, but ultimately affirmed the District Courts’ decision to dismiss the case. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.