NEW YORK–(BUSINESS WIRE)–lt;a href="https://twitter.com/hashtag/classaction?src=hash" target="_blank"gt;#classactionlt;/agt;–The law firm of Kirby
McInerney LLP announces that a class action lawsuit has been filed
in the U.S. District Court for the Middle District of Florida on behalf
of those who acquired Apyx Medical Corporation (“Apyx” or the “Company”)
securities during the period from August 1, 2018 through April 1, 2019
(the “Class Period”). Investors have until June 17, 2019 to apply to the
Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that Apyx failed to disclose to investors: (i) that
the clinical study on the use of J-Plasma for dermal resurfacing had not
met its primary efficacy endpoint; (ii) that, as a result, the clinical
study did not support the Company’s application for regulatory
clearance; and (iii) that, as a result, the Company was unlikely to
receive regulatory approval of J-Plasma for dermal resurfacing.
On April 1, 2019, Apyx announced that it had withdrawn its 510(k)
application for Renuvion, a patented surgical device for use in dermal
surgical procedures, 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 of certain protocol deviations.
On this news, shares of Apyx fell $2.49 per share, approximately 35.8%,
to close at $4.46 on April 2, 2019.
If you acquired Apyx securities, have information, or would like to
learn more about these claims, please contact Thomas
W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected],
or by filling out this
contact form, to discuss your rights or interests with respect to
these matters without any cost to you.
McInerney LLP is a New York-based plaintiffs’ law firm concentrating
in securities, antitrust, and whistleblower litigation. The firm’s
efforts on behalf of shareholders in securities litigation have resulted
in recoveries totaling billions of dollars. Additional information about
the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
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