11/01/2019 21:05:00

AXOGEN, INC. INVESTOR ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for Middle District of Florida against AxoGen, Inc.

NEW YORK, Jan. 11, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP  announces that a class action lawsuit has been filed in the United States District Court for Middle District of Florida against AxoGen, Inc. ("AxoGen" or the “Company") (NASDAQ: AXGN) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired AxoGen securities pursuant and/or traceable to

  • the Company’s registration statement and prospectus (collectively, the “November 2017 Registration Statement”) issued in connection with its November 2017 secondary public offering (“November SPO”); and/or

     

  • the Company’s false and/or misleading registration statement and prospectus (collectively, the “May 2018 Registration Statement”) issued in connection with the Company’s May 2018 secondary public offering (“May SPO”); and/or

     

  • between August 7, 2017 and December 18, 2018, inclusive (the “Class Period”).

Investors who have incurred losses in the shares of AxoGen, Inc. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.

If you have incurred losses in the shares ofAxoGen, Inc.,you may,no later than March 11, 2019, 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 AxoGen, Inc.

The filed Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements and/or failed to disclose that:

  • AxoGen aggressively increased prices to mask lower sales;

     

  • AxoGen’s pricing alienated customers and threatened the Company’s future growth;

     

  • ambulatory surgery centers form a significant part of the market for the Company’s products;

     

  • such centers were especially sensitive to price increases;

     

  • the Company was dependent on a small number of surgeons whom the Company paid to generate sales;

     

  • AxoGen’s consignment model for inventory was reasonably likely to lead to channel stuffing;

     

  • the Company offered purchase incentives to sales representatives to encourage channel stuffing;

     

  • the Company’s sales representatives were encouraged to backdate revenue to artificially inflate metrics;

 

  • the Company lacked adequate internal controls to prevent such channel stuffing and backdating of revenue;

     

  • the Company’s key operating metrics, such as number of active accounts, were overstated; and

     

  • consequently, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
  • On December 18, 2018, Seligman Investments reported that “[a] number of former [AxoGen] employees allege channel stuffing [at AxoGen], given that the company’s consignment model creates potential for abuse, as well as alleging questionable revenue recognition practices.” The article continued to state that “allegations additionally include misleading operating metrics, with one former rep implying that the company’s definition of ‘active accounts’ may overstate the actual number by a factor of ten.”

    Following this news, AxoGen stock dropped $6.17 per share, or roughly 22%, to close at $21.36 on December 18, 2018.

    ## Follow the firm and learn about newly filed cases on Twitter and Facebook. ##

    Wolf Haldenstein Adler Freeman & Herz LLP

     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, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

    Contact:

    Wolf Haldenstein Adler Freeman & Herz LLP

    Kevin Cooper, Esq.

    Gregory Stone, Director of Case and Financial Analysis

    Email: gstone@whafh.comkcooper@whafh.com or classmember@whafh.com

    Tel: (800) 575-0735 or (212) 545-4774

    Attorney Advertising. Prior results do not guarantee or predict a similar outcome.

    wolf_logo_color_tagline.jpg

    Post comment

    Related debate

    • 1 week
    • 1 month
    • 1 Year
    18 Jan
    I:SP500
      Hejsa    Jeg har igen vedlagt vores langsigtede konjunkturmodel med de ledende indikatorer i USA, ..
    39
    17 Jan
    PNDORA
    Jeg vil bare henlede opmærksomheden paa Lars Christensens artikel omkring "Short Selling", direkte h..
    37
    18 Jan
    PNDORA
    En stor tak til alle jer, der har givet mig en like (ialt 32). Det er dejligt at vide, at vi er mang..
    20
    19 Jan
    I:NDX
    Har lige opdaget at man kan trykke på en knap og sende en like. Men hvad skal man bruge det til? Alt..
    18
    19 Jan
     
    Jeg deltog i går i en spørgeseance med CEO for Euronav Paddy Rodgers. Euronav er et pure play på råo..
    18
    16 Jan
    VWS
    Din indsigt i verdensfirmaet Vestas er forbløffende!
    14
    22 Jan
    DANSKE
    Det kan jo aldrig falde tilbage på en bank eller dens aktionærer at der er en flok institionelle inv..
    13
    22 Jan
    GOMX
    Update fra SASg i morges: 29 customers signed with expected annualised revenues of $10 - $12M from 1..
    13
    18 Jan
    ROV
    Ja, og de to ovenstående kommentarer er i den grad med til at forringe og forsimple debatniveauet he..
    13
    17 Jan
    PNDORA
    Udfordringen er, at der hele tiden sker en bekræftigelse af at Pandoras fald er faldende uden nogle ..
    13

    HSBC Bank Plc : Form 8.5 (EPT/RI) - Lonmin PLC

    22/02/2018 10:54:53
    FORM 8.5 EPT/RI) PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY Rule 8.5 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Name of exempt principal trader: HSBC BANK PLC (b) Name of offeror/offeree i..

    Rathbone Brothers Plc : Preliminary announcement of 2017 results

    22/02/2018 07:00:19
    Funds under management up 14.3% to £39.1 billionThis is a preliminary statement of annual results published in accordance with FCA Listing Rule 9.7A. It covers the year ended 31 December 2017. Mark Nicholls, Chairman of Rathbone Brothers Plc, said: "UK and global investment markets performed well in 2017, with some indices reaching record levels towards the end of the year. This outcome has b..

    Elliott Capital Advisors, L.P : Form 8.3 - GKN Plc

    21/02/2018 15:25:10
    FORM 8.3 PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE Rule 8.3 of the Takeover Code (the "Code") 1.         KEY INFORMATION (a) Full name of discloser: Elliott Capital Advisors, L.P. (for itself and related general partners ..

    Most read news

    • 24 hours
    • 48 hours
    • 1 week
    1
    LoRa Alliance Passes 100 LoRaWAN™ Network Operator Milestone with Coverage in 100 Countries
    2
    General Cannabis Continues Expansion with Latest Office Opening in Los Angeles and Renovation of 15,000 Square Foot Denver Headquarters
    3
    Distilled Identity and Emerge Announce Technology Partnership to Solve Global Identity Crisis for Refugees
    4
    Bloomington-Normal Association of Realtors® Successfully Goes Live with Midwest Real Estate Data
    5
    Update on Parys Mountain Optimisation Study

    Buy and sell signals

    • Trend
    • Moneymachine

    Copyright Berlingske Media 2019  Cookie- and Privacy policy  |  Cookies  |   General terms of trade  |   Terms of use and IP rights
    Quote information is delivered by Morningstar.
    Data is delayed 15-20 minutes according to the distribution agreements set by the different exchanges.
     
    23 January 2019 01:59:49
    (UTC+00:00) Dublin, Edinburgh, Lisbon, London
    Version: ReleaseBuild_20190121.1 - EUROWEB7 - 2019-01-23 02:59:49 - 2019-01-23 01:59:49 - 1000 - Website: OKAY