MiMedx's Officers and Directors Allegedly Breached their Fiduciary Duties
Shareholder and consumer rights law firm Schubert Jonckheer & Kolbe LLP has launched an investigation into whether certain officers and directors of MiMedx Group, Inc. (NASDAQ: MDXG) breached their fiduciary duties to MiMedx and its shareholders.
A class action brought on behalf of purchasers or MiMedx shares during the period March 29, 2012 to September 4, 2013, pending in the United States District Court for the Northern District of Georgia, seeks to obtain damages from MiMedx. The class action alleges that key MiMedx executives and board members caused the Company to issue materially false and misleading statements that two of MiMedx’s injectable products—AmnioFix and EpiFix—qualified for an FDA exemption from drug regulation, and to fail to disclose an FDA investigation into MiMedx’s products. The District Court denied MiMedx’s motion to dismiss the case, and the case is now proceeding toward trial.
The Schubert Law Firm’s investigation concerns whether current MiMedx shareholders may be able to bring derivative claims on behalf of MiMedx itself against certain of its officers and directors for their actions in causing MiMedx to incur liability in the class action. The Firm’s investigation also concerns a recent subpoena issued to MiMedx by the Office of Inspector General of the Department of Health and Human Services, seeking information related to certain of MiMedx’s sales and marketing activities.
If you currently own MDXG stock and wish to obtain additional information about the investigation and your legal rights, please fill out our form (at right) or contact Miranda Kolbe either via email at email@example.com or by phone at 415-788-4220.