BENSALEM, Pa., June 13, 2019 (GLOBE NEWSWIRE) — Law Offices of Howard G. Smith reminds investors of the upcoming June 17, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Apyx Medical Corporation (“Apyx” or the “Company”) (NASDAQ: APYX) securities between August 1, 2018 and April 1, 2019, inclusive (the “Class Period”).
Investors suffering losses on their Apyx investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.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Then, on April 1, 2019, Apyx announced that it had withdrawn its 510(k) application for the use of J-Plasma for dermal resurfacing, citing concerns raised by the FDA.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.
If you purchased shares of Apyx during the Class Period you may move the Court no later than June 17, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. 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 these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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