WASHINGTON–(BUSINESS WIRE)–Cohen Milstein Sellers & Toll PLLC is conducting an investigation to
determine whether Apyx Medical Corporation (“Apyx” or the “Company”) and
certain of its officers and directors made false and misleading
statements and/or omissions in violation of Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
A class action lawsuit was filed in the U.S. District Court for the
Middle District of Florida by another law firm on behalf of purchasers
of the common stock of Apyx (NASDAQ: APYX) between August 1, 2018 and
April 1, 2019, inclusive (the “Class Period”).
Apyx developed J-Plasma, a plasma-based surgical product, for cutting,
coagulation, and ablation of soft tissue. Apyx markets and sells J-Plasm
under the brand name Renuvion Cosmetic Technology. The claims in this
case followed Apyx’s withdrawal of a 501(k) submission to the FDA for a
new indication to market and sell Renuvion for dermal resurfacing
procedures.
The complaint alleges that Apyx and certain of its officers and
directors (“Defendants”) misrepresented and/or failed to disclose that:
(1) the clinical study on the use of J-Plasma for dermal resurfacing had
not met its primary efficacy endpoint; (2) as a result, the IDE clinical
study re the same did not support the Company’s application for
regulatory clearance; (3) as a result, the Company was unlikely to
receive regulatory approval of J-Plasma for dermal resurfacing; and (4)
as a result of the foregoing, Defendants’ positive statements about the
Company’s business, operations, and prospects were materially false
and/or misleading and/or lacked a reasonable basis.
On April 1, 2019, Apyx announced it had withdrawn its 501(k) submission
as the result of concerns raised by the FDA. Apyx further revealed that
its IDE trial did not meet its primary endpoint. The price of Apyx
shares fell from $6.95 on April 1, 2019 to $4.46 on April 2, 2019.
Cohen Milstein encourages all investors who purchased Apyx common stock
between August 1, 2018 and April 1, 2019, or former employees with
information concerning this matter to contact the firm.
If you are an Apyx shareholder and would like to discuss your right to
recover for your economic loss, you may, without any cost or obligation,
call Cohen Milstein’s Managing Partner, Steven
J. Toll at (888) 240-0775 or (202) 408-4600, or email him at [email protected].
If you wish to serve as lead plaintiff, you must move the Court no later
than June 17 to request appointment. Any member of the proposed class
may retain Cohen Milstein or other attorneys to serve as your counsel in
this action, or you may do nothing and remain an absent class member.
Cohen
Milstein has significant experience in prosecuting investor class
actions and actions involving securities fraud and is active in major
litigation pending in federal and state courts throughout the nation.
Cohen Milstein has taken a lead role in numerous important cases on
behalf of defrauded investors and has been responsible for a number of
outstanding recoveries which, in the aggregate, total billions of
dollars. Prior results do not guarantee a similar outcome. For more
information visit www.cohenmilstein.com.
If you have any questions about this notice or the action, or with
regard to your rights, please contact either of the following:
Steven
J. Toll, Esq.
Marie Mullins
Cohen Milstein Sellers & Toll
PLLC
1100 New York Avenue, N.W.
Fifth Floor
Washington,
D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: [email protected];
[email protected]
Attorney Advertising
Contacts
Steven
J. Toll, Esq.
Marie Mullins
Cohen Milstein Sellers & Toll
PLLC
1100 New York Avenue, N.W.
Fifth Floor
Washington,
D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: [email protected];
[email protected]
