PHILADELPHIA, Feb. 20, 2018 /PRNewswire/ -- Kehoe Law Firm, P.C. is investigating claims on behalf of investors of MiMedx Group, Inc. ("MiMedx") (NASDAQ: MDXG) to determine whether MiMedx and certain of its officers and/or directors engaged in securities fraud or other unlawful business practices.
On February 20, 2018, MiMedx announced that MiMedx will postpone release of its Q4 and FY 2017 financial results. Specifically, MiMedx issued a press release which, in relevant part, stated that the Audit Committee of MiMedx's Board of Directors" . . . has engaged independent legal and accounting advisors to conduct an internal investigation into current and prior-period matters relating to allegations regarding certain sales and distribution practices at [MiMedx]." Further, MiMedx advised investors that "[MiMedx] executives are also reviewing, among other items, the accounting treatment of certain distributor contracts."
On this news, MiMedx's stock price fell sharply on February 20, 2018, closing at $8.75 per share, down more than 39% from the $14.47 closing price on February 16, 2018.
MiMedx Group Investors: If you purchased MDXG shares and have questions or concerns about the securities investigation or your potential legal rights, please visit https://kehoelawfirm.com/active-investigations/mimedx-group-shareholder-alert-mdxg or contact John A. Kehoe, Esq., (215) 792-6676, Ext. 801, firstname.lastname@example.org or e-mail email@example.com.
Kehoe Law Firm, P.C. is a multidisciplinary, plaintiff–side law firm dedicated to protecting investors and consumers from corporate fraud, negligence, and other wrongdoing.
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