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Case Status:    SETTLED
On or around 11/17/2016 (Date of order of distribution of settlement)

Filing Date: September 10, 2013

According to the law firm press release, MiMedx 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 (“FDA”) 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, thereby market’s 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.

COMPANY INFORMATION:

Sector:
Industry:
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MDXG
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Georgia
DOCKET #: 13-CV-06328
JUDGE:
DATE FILED: 09/10/2013
CLASS PERIOD START: 10/26/2011
CLASS PERIOD END: 09/03/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 13-CV-03074
JUDGE:
DATE FILED: 04/16/2015
CLASS PERIOD START: 03/29/2012
CLASS PERIOD END: 09/04/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Antonino Firm LLC
    Five Concourse Parkway, The Antonino Firm LLC, GA 30328
    770-408-1229 866-372-5586 ·
  2. The Rosen Law Firm P.A. (New York)
    275 Madison Avenue, 34th Floor, The Rosen Law Firm P.A. (New York), NY 10016
    (212) 686-1060 (212) 202-3827 ·
No Document Title Filing Date