NEW YORK, July 30, 2020 /PRNewswire/ --WeissLaw LLP, a national class action and shareholders' rights law firm with offices in New York, California and Georgia, announces an investigation of Apyx Medical Corporation (NASDAQ: APYX) ("Apyx Medical Corp.," or the "Company").
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Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
The investigation focuses on possible breaches of fiduciary duty and violations of the Federal securities laws by Apyx Medical Corp.'s Board of Directors. Notably, in March, Apyx Medical Corp. announced that it had identified material weaknesses in the Company's internal controls. As a result, the Company cautioned that financial reports for numerous periods, including the report for the year ended December 31, 2018, the reports for the three and nine months ended September 30, 2018, and the report for the three months ended March 31, 2019, can no longer be relied upon. On that news, the Company's shares tumbled from their March 16, 2020 trading high of $5.00 to trade as low as $3.77 per share on March 17, 2020— the day after the announcement.
WeissLaw is investigating whether Apyx Medical Corp.'s Board breached its fiduciary duties to the Company and its shareholders by failing to implement and maintain an adequate system of internal controls and by failing to exercise sufficient oversight over the Company's operations.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information) please email us at [email protected]