Case Page

 

Case Status:    DISMISSED    
On or around 04/23/2015 (Notice of voluntarily dismissal)

Filing Date: February 19, 2015

According to the law firm press release, MiMedx is a medical device company. The Company is focused on developing and marketing 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 federal regulations by engaging in improper marketing and sales practices; and (2) as a result of the foregoing, the Company's statements were materially false and misleading at all relevant times.

On December 31, 2014, after the close of trading, the Company issued a press release announcing the receipt of a civil subpoena from the Office of Inspector General ("OIG") of the Department of Health and Human Services ("HHS"). Moreover, the Company announced the same day that it had filed a lawsuit against one of its competitors, Organogenesis, Inc. ("Organogenesis"), for tortious interference of contract, alleging that it had interfered with MiMedx's dealings with the Veterans Administration. Within a matter of weeks, MiMedx voluntarily dismissed the lawsuit.

On this news, MiMedx securities declined $1.79 per share, or more than 15%, to close at $9.74 per share on January 2, 2015, the next trading day.

On April 23, 2015, the Court approved plaintiffs' voluntary dismissal of this case.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
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: S.D. New York
DOCKET #: 15-CV-01221
JUDGE: Hon. Torres
DATE FILED: 02/19/2015
CLASS PERIOD START: 02/26/2014
CLASS PERIOD END: 12/31/2014
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