Apyx Medical Corporation Investor News: Robbins LLP investigates Apyx Medical Corporation (APYX) on behalf of shareholders – Lawyer Monthly
SAN DIEGO–(BUSINESS WIRE)–$APYX #APYX–Law firm in shareholder law Robbins LLP is investigating Apyx Medical Corporation (NASDAQ: APYX) and its officers and directors to determine whether they breached their fiduciary duties and violated securities laws by using its products for off-label indications. Apyx claims to be an advanced energy technology company with products in the cosmetic and surgical markets. Nearly 80% of its turnover comes from the Advanced Energy segment.
If you would like more information about our investigation into the misconduct of Apyx Medical Corporation, click here.
What this case is about: According to the complaint, between May 12, 2021 and March 11, 2022, the defendants failed to disclose to investors that a significant number of Apyx’s Advanced Energy products were used for off-label indications and that these off-label uses resulted in an increase in the number of medical device reports filed by Apyx reporting serious adverse events. Accordingly, the Company was reasonably likely to be subject to regulatory review, which would adversely affect its financial results.
On March 14, 2022, Apyx disclosed that the FDA would issue a Medical Device Safety Notice (“MDSC”) regarding the company’s advanced energy products. The Company further revealed that “[b]Based on our initial interactions with the FDA, we believe the Agency’s MDSC will relate to the use of our Advanced Energy products outside of their FDA-approved indication for general use in cutting, coagulation, and soft tissue removal during open and laparoscopic surgical procedures. .” On this news, shares of the company fell $4.02, or more than 40%, to close at $5.66 per share on March 14, 2022.
Next steps: If you acquired shares of Apyx Medical Corporation securities between May 12, 2021 and March 11, 2022, you have legal options. Contact Robbins LLP for more information.
All representation is done on a contingent fee basis. Shareholders do not pay any fees or expenses.
Contact us for more information:
Aaron Dumas
(800) 350-6003
adumas@robbinsllp.com
Shareholder Information Form
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP are dedicated to helping shareholders recoup losses, improving corporate governance structures and holding corporate executives responsible for their wrongdoings since 2002. To be notified if a class action lawsuit against Apyx Medical Corporation settles or to receive free alerts when corporate executives commit wrongdoing, sign up for Watch Inventory today.
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contacts
Aaron Dumas
Robbins LLP
5040 Shoreham Place
San Diego, California 92122
adumas@robbinsllp.com
(800) 350-6003
