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Investigation
03/14/2022
Initial Lawsuit
06/06/2022
Lawsuit Progression
08/05/2022
A shareholder filed this securities class action on behalf of persons and entities that purchased or otherwise acquired Apyx Medical Corporation securities between May 12, 2021 and March 11, 2022, inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors:
(1) that a significant number of Apyx’s Advanced Energy products were used for off-label indications;
(2) that such off-label uses led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events;
(3) that, as a result, the company was reasonably likely to incur regulatory scrutiny;
(4) that, as a result of the foregoing, the company’s financial results would be adversely impacted; and
(5) that, as a result of the foregoing, defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
