BENSALEM, Pa.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24APYX&src=ctag” target=”_blank”gt;$APYXlt;/agt; lt;a href=”https://twitter.com/hashtag/classaction?src=hash” target=”_blank”gt;#classactionlt;/agt;–Law Offices of Howard G. Smith reminds investors of the upcoming June
17, 2019 deadline to file a lead plaintiff motion in the class
action filed on behalf of investors who purchased Apyx Medical
Corporation (“Apyx” or the “Company”) (NASDAQ: APYX)
securities between August 1, 2018 and April 1, 2019, inclusive
(the “Class Period”).
Investors suffering losses on their Apyx investments are encouraged to
contact the Law Offices of Howard G. Smith to discuss their legal rights
in this class action at 888-638-4847 or by email to [email protected].
On February 21, 2019, White Diamond Research released a report alleging
that a clinical study on the use of the Company’s J-Plasma for dermal
resurfacing may have missed its endpoints.
On this news, shares of Apyx fell $2.10 per share, or nearly 25%, to
close at $6.40 on February 21, 2019, thereby injuring investors.
Then, on April 1, 2019, Apyx announced that it had withdrawn its 510(k)
application for the use of J-Plasma for dermal resurfacing, citing
concerns raised by the FDA. Apyx revealed that the FDA had questioned
the device’s clinical results, which differed greatly from two of the
investigational centers used in the study, as well as the potential
impact certain protocol deviations. Moreover, Apyx disclosed that the
clinical study did not meet its primary efficacy endpoint.
On this news, shares of Apyx fell $2.49 per share, or over 35%, to close
at $4.46 on April 2, 2019, thereby injuring investors further.
The complaint filed in this class action alleges that throughout the
Class Period, Defendants made false and/or misleading statements, as
well as failed to disclose material adverse facts about the Company’s
business, operations, and prospects. Specifically, Defendants made false
and/or misleading statements and/or failed to disclose: (1) that the
clinical study on the use of J-Plasma for dermal resurfacing had not met
its primary efficacy endpoint; (2) that, as a result, the clinical study
did not support the Company’s application for regulatory clearance; (3)
that, as a result, the Company was unlikely to receive regulatory
approval of J-Plasma for dermal resurfacing; and (4) that, 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.
If you purchased shares of Apyx during the Class Period you may move the
Court no later than June 17, 2019 to ask the Court to
appoint you as lead plaintiff if you meet certain legal requirements. To
be a member of the class action you need not take any action at this
time; you may retain counsel of your choice or take no action and remain
an absent member of the class action. If you wish to learn more about
this class action, or if you have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected],
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.