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”) (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, the District Court granted Defendants' Motion to Dismiss. On February 25, 2022, Lead Plaintiffs filed a Notice of Appeal to the United States Court of Appeals for the Eleventh Circuit, which ultimately affirmed the District Courts’ decision to dismiss the case on July 10, 2023. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.