PDF

Apyx Medical Corporation Class Action Lawsuit - APYX

Company Name
Apyx Medical Corporation
Stock Symbol
APYX
Class Period
May 12, 2021 to March 11, 2022
Motion Deadline
August 5, 2022
Court
Middle District of Florida
39 days left to seek lead plaintiff status

Case Summary

The Apyx Medical class action lawsuit seeks to represent purchasers or acquirers of Apyx Medical Corporation (NASDAQ: APYX) securities between May 12, 2021 and March 11, 2022, inclusive (the “Class Period”).  The Apyx Medical class action lawsuit – captioned Hattaway v. Apyx Medical Corporation, No. 22-cv-01298 (M.D. Fla.) – charges Apyx Medical and certain of its top executive officers with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Apyx Medical class action lawsuit, please provide your information by clicking here.  You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.  Lead plaintiff motions for the Apyx Medical class action lawsuit must be filed with the court no later than August 5, 2022.

CASE ALLEGATIONS: Apyx Medical claims to be an advanced energy technology company with products in the cosmetic and surgical markets.  Nearly 80% of its revenue is derived from the Advanced Energy segment, which consists of Apyx Medical’s helium plasma technology that is marketed and sold as Renuvion (in the cosmetic surgery market) and J-Plasma (in the hospital surgical market).

The Apyx Medical class action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) a significant number of Apyx Medical’s Advanced Energy products were used for off-label indications; (ii) such off-label uses led to an increase in the number of medical device reports filed by Apyx Medical reporting serious adverse events; (iii) as a result, Apyx Medical was reasonably likely to incur regulatory scrutiny; (iv) thus, Apyx Medical’s financial results would be adversely impacted; and (v) consequently, defendants’ positive statements about Apyx Medical’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On March 14, 2022, Apyx Medical disclosed that the U.S. Food and Drug Administration (“FDA”) would be posting a Medical Device Safety Communication (“MDSC”) related to Apyx Medical’s Advanced Energy products.  Apyx Medical further disclosed that “[b]ased on our initial interactions with the FDA, we believe the Agency’s MDSC will pertain to the use of our Advanced Energy products outside of their FDA-cleared indication for general use in cutting, coagulation, and ablation of soft tissue during open and laparoscopic surgical procedures.”  On this news, Apyx Medical’s stock price fell by more than 40%, damaging investors.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Apyx Medical securities during the Class Period to seek appointment as lead plaintiff.  A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.  A lead plaintiff acts on behalf of all other class members in directing the Apyx Medical class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Apyx Medical class action lawsuit.  An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Apyx Medical class action lawsuit.

ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases.  The Firm is ranked #1 on the 2021 ISS Securities Class Action Services Top 50 Report for recovering nearly $2 billion for investors last year alone – more than triple the amount recovered by any other plaintiffs’ firm.  With 200 lawyers in 9 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.

Main Menu