Axogen, Inc. (NASDAQ: AXGN)
Hagens Berman Sobol Shapiro LLP remindss investors in Axogen, Inc. (NASDAQ: AXGN) of the March 11, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Middle District of Florida.
If you purchased or otherwise acquired shares of AXGN between August 7, 2017 and December 18, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing AXGN@hbsslaw.com.
On December 18, 2018 a SeekingAlpha contributor published a 117-page adverse report about AxoGen.
The contributor’s investigation reportedly found in part “[a] number of former employees allege channel stuffing, given that the company’s consignment model creates potential for abuse, as well as alleging questionable revenue recognition practices” and “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.”
This news drove the price of AxoGen shares down $6.27, or about 23%, to close at $21.36 that day.
More recently, AxoGen’s Chief Commercial Officer and its VP U.S. Sales abruptly resigned.
“We’re focused on investors’ losses, the extent to which management may have engaged in improper promotional efforts and committed accounting irregularities, and the circumstances surrounding the CCO’s abrupt departure,” said Hagens Berman partner Reed Kathrein.
Hagens Berman purchases advertisements on search engines, social media sites and other websites. Transmission of the information contained or available through this website is not intended to create, and receipt does not constitute, an attorney-client relationship. If you seek legal advice or representation by Hagens Berman, you must first enter a formal agreement. All information contained in any transmission is confidential and Hagens Berman agrees to protect information against unauthorized use, publication or disclosure. This site is regulated by the Washington Rules of Professional Conduct.