INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims against AxoGen, Inc.
NEW YORK--(BUSINESS WIRE)--Dec 20, 2018--The law firm of Kirby McInerney LLP is investigating potential claims against AxoGen, Inc. (“AxoGen” or the “Company”) (NASDAQ: AXGN ). This investigation concerns whether AxoGen has violated federal securities laws and/or engaged in other unlawful business practices.
On December 18, 2018, Seligman Investments issued a report stating, among other things, that “[a] number of former [AxoGen] employees allege channel stuffing [at AxoGen], given that the company’s consignment model creates potential for abuse, as well as alleging questionable revenue recognition practices.” Further, the report states that “allegations additionally include misleading operating metrics, with one former rep implying that the company’s definition of ‘active accounts’ may overstate the actual number by a factor of ten.”
On this news, AxoGen shares fell $6.17, or about 22.4%, to close at $21.36 on December 18, 2018.
If you acquired AxoGen securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at email@example.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181220005978/en/
CONTACT: Kirby McInerney LLP
Thomas W. Elrod, Esq., (212) 371-6600
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Kirby McInerney LLP
Copyright Business Wire 2018.
PUB: 12/20/2018 08:30 PM/DISC: 12/20/2018 08:30 PM