Investigation announced for Investors in MiMedx Group, Inc. (NASDAQ: MDXG) shares over possible Violations of Securities Laws

MiMedx Group, Inc is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of MiMedx Group, Inc. (NASDAQ: MDXG), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by MiMedx Group, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Marietta, GA based MiMedx Group, Inc. develops and distributes placental tissue allografts for various sectors of healthcare. MiMedx Group, Inc. reported that its annual Total Revenue rose from $258.61 million in 2021 to $267.84 million in 2022, and that its Net Loss increased from $10.28 million in 2021 to $30.19 million in 2022.

On December 29, 2023, MiMedx Group, Inc. announced that "[f]ollowing a routine inspection earlier in the year, the United States Food and Drug Administration ("FDA") took the position that one of the Company's recently-launched placental-derived tissue products - AXIOFILL - does not meet the requirements as a Section 361 product and is therefore subject to enforcement as a Section 351 product. Specifically, FDA asserts that the production of AXIOFILL involves more than "minimal manipulation." The Company does not agree with FDA's position and has been actively engaged with the agency through its "Request For Designation" ("RFD") process. However, on December 21, 2023, MIMEDX received a Warning Letter from FDA reiterating the agency's position on AXIOFILL."

Shares of MiMedx Group, Inc. (NASDAQ: MDXG) declined from $9.27 per share on December 20, 2023, to $7.61 per share on January 04, 2023.

Those who purchased shares of MiMedx Group, Inc. (NASDAQ: MDXG) have certain options and should contact the Shareholders Foundation.

Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.