Apyx Medical Corporation (NASDAQ: APYX)
NEW YORK, NY – June 14, 2022 – 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 Middle District of Florida on behalf of persons and entities that purchased or otherwise acquired Apyx Medical Corporation (“Apyx” or the “Company”) (NASDAQ: APYX) securities between May 12, 2021 and March 11, 2022, inclusive (the “Class Period”).
All investors who purchased the shares of Apyx Medical Corporation and incurred losses are advised to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774.
If you have incurred losses in Apyx Medical Corporation, you may, no later than August 5, 2022, request that the Court appoint you lead plaintiff of 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, 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 failed to disclose to investors:
- that a significant number of Apyx’s Advanced Energy products were used for off-label indications;
- that such off-label uses led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events;
- that, as a result, the Company was reasonably likely to incur regulatory scrutiny;
- that, as a result of the foregoing, the Company’s financial results would be adversely impacted; 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 a reasonable basis.
On March 14, 2022, Apyx disclosed that the U.S. Food and Drug Administration (“FDA”) would be posting a Medical Device Safety Communication (“MDSC”) related to the Company’s Advanced Energy Products. The Company further disclosed that “[b]ased on our initial interactions with the FDA, we believe the Agency’s MDSC will pertain to the use of our Advanced Energy products outside of their FDA-cleared indication for general use in cutting, coagulation, and ablation of soft tissue during open and laparoscopic surgical procedures.”
On this news, the Company’s stock fell $4.02, or 40.6%, to close at $5.88 per share on March 14, 2022, on unusually heavy trading volume.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions 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. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at firstname.lastname@example.org
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Tel: (800) 575-0735 or (212) 545-4774
Certification and Authorization Pursuant to Federal Securities Laws
Date of signing: 08/17/2022