According to the law firm press release, MiMedx Group, Inc. ("MiMedx" or the Company) is a medical device company. The Company is focused on biomaterials for soft tissue repair, such as tendons, ligaments, and cartilage, as well as other biomaterial-based products for other medical applications.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was in violation of the Public Health Service Act by unlawfully manufacturing and marketing certain unapproved biologics products; and (2) as a result of the foregoing, the Company’s statements were materially false and misleading at all relevant times.

On September 4, 2013, the Food and Drug Administration posted on its website an “Untitled Letter” sent to MiMedx on August 28, 2013, 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, specifically unapproved biologics products. On this news, MiMedx securities declined $2.21 per share or more than 36% to close at $3.85 per share on September 4, 2013.

On December 10, 2013, the Court issued an Order consolidating cases, appointing lead Plaintiff, and approving lead Counsel. Lead Plaintiff filed an amended and consolidated Complaint on January 27, 2014.

On August 13, 2014, the Court issued an Order denying Defendants' Motion to Dismiss.

On November 17, 2015, the parties filed a Stipulation of Settlement. This Settlement was preliminarily approved by the Court 2 days later.

On April 5, 2016, the Court issued an Order granting final approval of the Settlement and dismissing this case.