NEW YORK, Oct. 11, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in MiMedx, Inc. ("MiMedx" or the "Company") (NASDAQ: MDXG) of the November 8, 2013 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against MiMedx and certain executives.
A complaint has been filed on behalf of all persons who purchased or otherwise acquired MiMedx common stock between October 26, 2011 and September 4, 2013 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period MiMedx issued false and/or misleading statements and failed to disclose that: (i) the Company was not in possession of the necessary licensing to manufacture certain products and (ii) as a result, the substantial revenue derived from the unapproved products was subject to termination.
On September 4, 2013, the Company announced that it received an "Untitled Letter" from the FDA which stated that MiMedx's Surgical Biologics unit violated the Public Health Service Act by unlawfully manufacturing and marketing drugs at one of its plants.
Following this news, the Company's stock declined $2.21 per share, or over 36%, to close at $3.85 per share on September 4, 2013.
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If you invested in MiMedx stock or options between October 26, 2011 and September 4, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/MDXG. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. 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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