| COMPANY |
MiMedx Group Inc. |
| COURT |
United States District Court for the Northern District of Georgia |
| CASE NUMBER |
18-cv-00830 |
| JUDGE |
The Honorable William McCrary Ray II |
| CLASS PERIOD |
March 7, 2013 - June 29, 2018 |
| SECURITY TYPE |
Common Stock |
Case Background:
On February 23, 2018, the initial complaint in this securities class action was filed against MiMedx Group Inc. (“MiMedx” or the “Company”), and certain of MiMedx’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities class action lawsuit brought on behalf of all persons or entities that purchased or otherwise acquired the publicly traded common stock of MiMedx between March 7, 2013 and June 29, 2018, both dates 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:
On March 30, 2020, Lead Plaintiffs filed a second amended complaint (the “Amended Complaint”). Defendants filed a Motion to Dismiss the Amended Complaint on May 29, 2020. On March 25, 2021, the 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. On July 10, 2023, the Eight Circuit Court of Appeals affirmed in part and vacated in part the Order dismissing the case. This action had been sent back to the District Court for further proceedings and is ongoing.
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.