NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Apyx Medical Corporation f/k/a Bovie Medical Corporation
(“Apyx” or the “Company”) (NASDAQ:APYX) of the June 17, 2019 deadline to
seek the role of lead plaintiff in a federal securities class action
that has been filed against the Company.
If you invested in Apyx stock or options between August 1, 2018 and
April 1, 2019 and would like to discuss your legal rights, click
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected].
The lawsuit has been filed in the U.S. District Court for the Middle
District of Florida on behalf of all those who purchased Apyx securities
between August 1, 2018 and April 1, 2019 (the “Class Period”). The case, Pritchard
v. APYX Medical Corporation et al., No. 19-cv-00919 was filed on
April 17, 2019, and has been assigned to Judge Susan C. Bucklew.
The lawsuit focuses on whether the Company and its executives violated
federal securities laws by making false and/or misleading statements
and/or failing 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.
On February 21, 2019, White Diamond Research released a report alleging,
among other things, that “Apyx did not reveal the results of its
clinical study on J-Plasma use for dermal resurfacing–a red flag that it
may have missed its endpoints.”
On this news, the Company’s stock price fell from $8.50 per share on
February 20, 2019 to $6.40 per share on February 21, 2019—a $2.10 or
On April 1, 2019, after the market closed, the Company revealed that it
had withdrawn its application for regulatory clearance of J-Plasma for
use in dermal resurfacing procedures, citing concerns raised by the FDA.
It also revealed that the clinical study for J-Plasma had missed its
primary efficacy endpoint.
On this news, the Company’s stock price fell from $6.95 per share on
April 1, 2019 to $4.46 per share on April 2, 2019—a $2.49 or 35.83% drop.
The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Apyx’s conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
York, NY 10017
Attn: Richard Gonnello, Esq.
(877) 247-4292 or (212) 983-9330