NEW YORK, Jan. 30, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of MiMedx Group, Inc. ("MiMedx" or the "Company") (NASDAQ: MDXG). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether MiMedx and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On December 29, 2023, MiMedx issued a press release announcing that "[f]ollowing a routine inspection earlier in the year, the United States Food and Drug Administration ('FDA') took the position that one of the Company's recently-launched placental-derived tissue products – AXIOFILL – does not meet the requirements as a Section 361 product and is therefore subject to enforcement as a Section 351 product. Specifically, FDA asserts that the production of AXIOFILL involves more than 'minimal manipulation.' The Company does not agree with FDA's position and has been actively engaged with the agency through its 'Request For Designation' ('RFD') process. However, on December 21, 2023, MIMEDX received a Warning Letter from FDA reiterating the agency's position on AXIOFILL."
On this news, MiMedx's stock price fell $0.90 per share, or 10.26%, to close at $7.87 per share on January 2, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
View original content to download multimedia:https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-mimedx-group-inc---mdxg-302048616.html
SOURCE Pomerantz LLP
