Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Apyx Medical Corporation

    0
    286
    Reading Time: 2 minutes

    LOS ANGELES–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24APYX&src=ctag” target=”_blank”gt;$APYXlt;/agt; lt;a href=”https://twitter.com/hashtag/CLASSACTION?src=hash” target=”_blank”gt;#CLASSACTIONlt;/agt;–Glancy
    Prongay & Murray LLP
    (“GPM”) reminds investors of the upcoming June
    17, 2019 
    deadline to file a lead plaintiff motion in the class
    action filed on behalf of Apyx Medical Corporation (“Apyx” or the
    “Company”) (NASDAQ: APYX)
    investors who purchased securities between August 1, 2018 and
    April 1, 2019
    , inclusive (the “Class Period”).

    If you are a shareholder who suffered a loss, click here to
    participate.

    If you wish to learn more about this action, or if you have any
    questions concerning this announcement or your rights or interests with
    respect to these matters, please contact Lesley Portnoy, Esquire, at
    310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected],
    or visit our website at www.glancylaw.com.

    On February 21, 2019, White Diamond Research released a report alleging
    that a clinical study on the use of the Company’s J-Plasma for dermal
    resurfacing may have missed its endpoints.

    On this news, shares of Apyx fell $2.10 per share, or nearly 25%, to
    close at $6.40 on February 21, 2019, thereby injuring investors.

    Then, on April 1, 2019, Apyx announced that it had withdrawn its 510(k)
    application for the use of J-Plasma for dermal resurfacing, 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 certain protocol deviations. Moreover, Apyx disclosed that the
    clinical study did not meet its primary efficacy endpoint.

    On this news, shares of Apyx fell $2.49 per share, or over 35%, to close
    at $4.46 on April 2, 2019, thereby injuring investors further.

    The complaint filed in this class action alleges that throughout the
    Class Period, Defendants made false and/or misleading statements, as
    well as failed to disclose material adverse facts about the Company’s
    business, operations, and prospects. Specifically, Defendants made false
    and/or misleading statements and/or failed to disclose: (1) that the
    clinical study on the use of J-Plasma for dermal resurfacing had not met
    its primary efficacy endpoint; (2) that, as a result, the clinical study
    did not support the Company’s application for regulatory clearance; (3)
    that, as a result, the Company was unlikely to receive regulatory
    approval of J-Plasma for dermal resurfacing; and (4) that, 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.

    Follow us for updates on Twitter: twitter.com/GPM_LLP.

    If you purchased or otherwise acquired Apyx securities during the Class
    Period you may move the Court no later than June 17, 2019 to
    request appointment as lead plaintiff in this putative class action
    lawsuit. To be a member of the class action you need not take any action
    at this time; you may retain counsel of your choice or take no action
    and remain an absent member of the class action. If you wish to learn
    more about this class action, or if you have any questions concerning
    this announcement or your rights or interests with respect to the
    pending class action lawsuit, please contact Lesley Portnoy, Esquire, of
    GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067
    at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected],
    or visit our website at www.glancylaw.com.
    If you inquire by email please include your mailing address, telephone
    number and number of shares purchased.

    This press release may be considered Attorney Advertising in some
    jurisdictions under the applicable law and ethical rules.

    Contacts

    Glancy Prongay & Murray LLP, Los Angeles
    Lesley Portnoy,
    310-201-9150 or 888-773-9224
    [email protected]
    www.glancylaw.com