APYX MEDICAL CORPORATION CLASS – GuruFocus.com
NEW YORK, June 14, 2022 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Intermediate District of Florida on behalf of individuals and entities that have purchased or otherwise acquired Apyx Medical Corporation (“Apyx ” or the “Company”) ( APYX) between May 12, 2021 and March 11, 2022 inclusive (the “Class Period”).
All investors who have purchased shares of Apyx Medical Corporation and who have incurred losses are urged to contact the company immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You can get additional information about the action or join the case on our website, www.whafh.com.
If you have suffered losses in Apyx Medical Corporation, you can, at the latest August 5, 2022, ask the Court to name you as the lead plaintiff in the proposed class. please contact Wolf Haldenstein to learn more about your rights as an investor in Apyx Medical Corporation.
The filed complaint alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the company’s business, operations and prospects. Specifically, the defendants failed to disclose to investors:
- that a significant number of Apyx’s Advanced Energy products were used for off-label indications;
- that these off-label uses have led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events;
- that, therefore, the Company was reasonably likely to be subject to regulatory review;
- that as a result of the foregoing, the Company’s financial results would be adversely affected; and
- that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations and prospects were materially misleading and/or lacked reasonable basis.
On March 14, 2022, Apyx announced that the United States Food and Drug Administration (“FDA”) would issue a Medical Device Safety Notice (“MDSC”) regarding the company’s advanced energy products. The Company further revealed that “[b]Based on our initial interactions with the FDA, we believe the Agency’s MDSC will relate to the use of our Advanced Energy products outside of their FDA-approved indication for general use in cutting, coagulation, and soft tissue removal during open and laparoscopic surgical procedures. .”
On this news, shares of the company fell $4.02, or 40.6%, to close at $5.88 per share on March 14, 2022, on unusually high trading volume.
Wolf Haldenstein has extensive experience in prosecuting securities class action and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. This firm’s reputation and expertise in shareholder litigation and other class actions have been repeatedly recognized by the courts, which have appointed it to major positions in complex multidistrict and consolidated securities litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please contact immediately Wolf Haldenstein by phone at (800) 575-0735 or by email at [email protected]
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Business and Financial Analysis
E-mail: [email protected], [email protected] Where [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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