Company: MiMedx Group, Inc.
Kaskela Law LLC is investigating MiMedx Group, Inc. (NASDAQ: MDXG) (“MiMedx” or the “Company”) on behalf of the Company’s current stockholders. The investigation seeks to determine whether MiMedx’s executive officers and/or directors breached their fiduciary duties to the Company and its stockholders and/or violated the securities laws.
On February 20, 2018, MiMedx announced that it was postponing the filing of its Form 10-K Annual Report for the year ended December 31, 2017. The Company further announced that its Audit Committee had “engaged independent legal and accounting advisors to conduct an internal investigation into current and prior-period matters relating to allegations regarding certain sales and distribution practices at the Company.” Following this news, shares of the Company’s stock declined $5.72 per share, or nearly 40% in value.
Then on June 7, 2018, MiMedx disclosed that “the Audit Committee of the Company’s Board of Directors, with concurrence from management of the Company, has concluded that the Company’s previously issued consolidated financial statements relating to each of the fiscal years ended December 31, 2012, 2013, 2014, 2015, and 2016 and each of the interim periods ended March 31, June 30 and September 30, 2017 should be restated.”
Finally, on September 20, 2018, MiMedx announced that its Board of Directors had “determined that the previously announced separations of four senior MiMedx executives – Parker H. Petit, William C. Taylor, Michael J. Senken, and John E. Cranston … be treated as terminations ‘for cause’. … These determinations are based on information identified as part of the Audit Committee’s ongoing independent investigation.”
MiMedx stockholders are encouraged to contact Kaskela Law LLC to discuss their legal rights and options with respect to this investigation, or complete the information form on this page.