The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Apyx Medical Corporation (NASDAQ: APYX) who purchased shares between May 12, 2021 and March 11, 2022. The action, which was filed in the United States District Court for the Middle District of Florida, alleges that the Company violated federal securities laws.
In particular, the APYX lawsuit alleges that (1) a significant number of Apyx’s Advanced Energy products were used for off-label indications; (2) such off-label uses led to an increase in the number of medical device reports filed by Apyx reporting serious adverse events; (3) as a result, the Company was reasonably likely to incur regulatory scrutiny; (4) as a result of the foregoing, the Company’s financial results would be adversely impacted; and (5) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until August 5, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.