SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

Shareholder Alert: Robbins Arroyo LLP Announces Complaint Filed Against AxoGen, Inc. (AXGN)
[August 14, 2019]

Shareholder Alert: Robbins Arroyo LLP Announces Complaint Filed Against AxoGen, Inc. (AXGN)


Shareholder rights law firm Robbins Arroyo LLP announces that a purchaser of AxoGen, Inc. (NYSE: AXGN) filed a derivative complaint against the company's officers and directors for breaches of fiduciary duty beginning November 16, 2017. AxoGen provides surgical intervention for physical damage for peripheral nerve impairments.

If you suffered a loss as a result of AxoGen's misconduct, click here.

AxoGen, Inc. (AXGN) Accused of Grossly Overcompensating its Directors

According to the derivative complaint, between November 2017 and October 2018, AxoGen touted healthy revenue, improved control over previously repored material weaknesses, and an increase in active accounts. AxoGen conducted two public offerings during this time, based in part on these representations. On December 18, 2018, Seligman Investments issued a scathing report revealing that former employees alleged channel stuffing and backdating of revenue, that the number of active accounts may be overstated, that AxoGen's growth was "driven by unsustainable, aggressive price increases," and that payments to physicians relative to revenue creates "elevated risks relating to pay-to-play and anti-kickback laws." On this news, AxoGen's share price declined almost 31% over the next 3 trading days and has yet to recover.



AxoGen, Inc. (AXGN) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
LKandinov@robbinsarroyo.com
Shareholder Information Form


Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click Here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.


[ Back To TMCnet.com's Homepage ]









Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2019 Technology Marketing Corporation. All rights reserved | Privacy Policy