LOS ANGELES–(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;–Glancy
Prongay & Murray LLP (“GPM”) announces that it has filed a class
action lawsuit in the United States District Court for the Middle
District of Florida, captioned Pritchard v. Apyx Medical Corporation
et al., (Case No. 8:19-cv-00919), on behalf of persons and entities
that purchased or otherwise acquired Apyx Medical Corporation (NASDAQ: APYX)
(“Apyx” or the “Company”) securities between August 1, 2018, and
April 1, 2019, inclusive (the “Class Period”). Plaintiff pursues
claims under Sections 10(b) and 20(a) of the Securities Exchange Act of
1934 (the “Exchange Act”).
Investors are hereby notified that they have 60 days from the date of
this notice to move the Court to serve as lead plaintiff in this
If you are a shareholder who suffered a loss, click here
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Then, on April 1, 2019, Apyx announced that it had withdrawn its 510(k)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.
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If you purchased Apyx securities during the Class Period, you may move
the Court no later than 60 days from the date of this notice to
ask the Court to appoint you as lead plaintiff. To be a member of the
Class 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. If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, of
GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067
at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.