Hynes Keller & Hernandez, LLC Announces Investigation of MiMedx Group, Inc. (MDXG)
Published: Jul 10, 2018
NEW YORK, July 10, 2018 /PRNewswire/ -- Hynes Keller & Hernandez, LLC is investigating potential claims against certain officers and directors of MiMedx Group, Inc. (NASDAQ: MDXG). Our investigation focuses on whether MiMedx's officers and/or directors breached their fiduciary duties to MiMedx's shareholders or otherwise violated state or federal laws.
In April 2018, a class action complaint was filed against the Company in federal court, alleging that between March 7, 2013 and February 21, 2018, MiMedx was engaged in a "channel-stuffing" scheme designed to inappropriately recognize revenue that had not yet been realized and that the Company lacked adequate internal controls over financial reporting.
Then, on June 7, 2018, MiMedx announced it would restate its financial statements for fiscal years 2012, 2013, 2014, 2015, and 2016, along with its interim financial statements released in March, June, and September 2017. The Company also disclosed that all financial information for the fourth quarter of 2017 and first quarter of 2018 could not be relied upon and withdrew its projections for fiscal year 2018. As part of its announcement, MiMedx disclosed that its Chief Financial Officer and Corporate Controller left those roles on June 6, 2018.
Click here for more information about our investigation of MDXG: https://www.hkh-lawfirm.com/investigations-cases/mimedx-group-inc-mdxg-2/
Hynes Keller & Hernandez, LLC is a shareholder rights law firm that represents institutional and individual investors. The firm is focused on providing exemplary legal services in the area of shareholder litigation. The firm has an experienced litigation team which has achieved significant victories on behalf of the firm's clients. You can visit our website at www.hkh-lawfirm.com for more information. Attorney advertising. Prior results do not guarantee similar outcomes.
If you hold shares in MDXG and would like to obtain additional information about your legal rights and protect your investment, please visit our website or contact the attorneys below. There is no cost or obligation to you.
Contact: Hynes Keller & Hernandez, LLC Hynes Keller & Hernandez, LLC Michael J. Hynes, Esq. Beth A. Keller, Esq. 101 Lindenwood Drive, Suite 225 118 North Bedford Road, Suite 100 Malvern, PA 19355 Mount Kisco, NY 10549 Telephone: (484) 875-3116 Telephone: (914) 752-3040 Email: firstname.lastname@example.org Email: email@example.com
SOURCE Hynes Keller & Hernandez, LLC