FOR IMMEDIATE RELEASE
WASHINGTON, D.C. – Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine whether Apyx Medical Corporation (“Apyx” or the “Company”) and certain of its officers and directors made false and misleading statements and/or omissions in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
A class action lawsuit was filed in the U.S. District Court for the Middle District of Florida by another law firm on behalf of purchasers of the common stock of Apyx (NASDAQ: APYX) between August 1, 2018 and April 1, 2019, inclusive (the “Class Period”).
Apyx developed J-Plasma, a plasma-based surgical product, for cutting, coagulation, and ablation of soft tissue. Apyx markets and sells J-Plasm under the brand name Renuvion Cosmetic Technology. The claims in this case followed Apyx’s withdrawal of a 501(k) submission to the FDA for a new indication to market and sell Renuvion for dermal resurfacing procedures.
The complaint alleges that Apyx and certain of its officers and directors (“Defendants”) misrepresented and/or failed to disclose that: (1) the clinical study on the use of J-Plasma for dermal resurfacing had not met its primary efficacy endpoint; (2) as a result, the IDE clinical study re the same did not support the Company’s application for regulatory clearance; (3) as a result, the Company was unlikely to receive regulatory approval of J-Plasma for dermal resurfacing; and (4) 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.
On April 1, 2019, Apyx announced it had withdrawn its 501(k) submission as the result of concerns raised by the FDA. Apyx further revealed that its IDE trial did not meet its primary endpoint. The price of Apyx shares fell from $6.95 on April 1, 2019 to $4.46 on April 2, 2019.
Cohen Milstein encourages all investors who purchased Apyx common stock between August 1, 2018 and April 1, 2019, or former employees with information concerning this matter to contact the firm.
If you are an Apyx shareholder and would like to discuss your right to recover for your economic loss, you may, without any cost or obligation, call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or (202) 408-4600, or email him at email@example.com. If you wish to serve as lead plaintiff, you must move the Court no later than June 17 to request appointment. Any member of the proposed class may retain Cohen Milstein or other attorneys to serve as your counsel in this action, or you may do nothing and remain an absent class member.
Cohen Milstein has significant experience in prosecuting investor class actions and actions involving securities fraud and is active in major litigation pending in federal and state courts throughout the nation. Cohen Milstein has taken a lead role in numerous important cases on behalf of defrauded investors and has been responsible for a number of outstanding recoveries which, in the aggregate, total billions of dollars. Prior results do not guarantee a similar outcome. For more information visit www.cohenmilstein.com.
If you have any questions about this notice or the action, or with regard to your rights, please contact either of the following:
Steven J. Toll, Esq. or Marie Mullins
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
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