APYX CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Apyx Medical Corporation

LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), announces that it has filed a class action lawsuit in the United States District Court for the Central District of Florida captioned Hattaway v Apyx Medical Corporation, et al., Case No. 22-cv-1298, on behalf of persons and entities who have purchased or otherwise acquired securities of Apyx Medical Corporation (“Apyx” or the “Company”) (NASDAQ: APYX) between May 12, 2021 and March 11, 2022, inclusive (the “Class Period”). Plaintiff is pursuing claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Investors are hereby informed that they have 60 days from this notice ask the Court to serve as lead plaintiff in this action.

If you have suffered a loss on your Apyx investments or would like to inquire about possible claims to recover your loss under federal securities laws, you may submit your contact information at www.glancylaw.com/ cases/apyx-medical-corporation-1/. You may also contact Charles H. Linehan, of GPM at 310-201-9150, toll-free at 888-773-9224, or by email at [email protected] or visit our website at www.glancylaw.com for learn more about your rights.

On March 14, 2022, Apyx announced that the United States Food and Drug Administration (“FDA”) would issue a Medical Device Safety Notice (“MDSC”) regarding the company’s advanced energy products. The Company further revealed that “[b]Based on our initial interactions with the FDA, we believe the Agency’s MDSC will relate to the use of our Advanced Energy products outside of their FDA-approved indication for general use in cutting, coagulation, and soft tissue removal during open and laparoscopic surgical procedures. .”

On this news, shares of the company fell $4.02, or 40.6%, to close at $5.88 per share on March 14, 2022, on unusually high trading volume.

The Complaint filed in this Class Action alleges that throughout the Class Period, the Defendants made materially false and/or misleading statements, and failed to disclose material adverse facts regarding the business, operations and societal prospects. Specifically, the defendants failed to disclose to investors: (1) that a significant number of Apyx’s Advanced Energy products were used for non-compliant indications; (2) that these off-label uses have resulted in an increase in the number of medical device reports filed by Apyx of serious adverse events; (3) that, as a result, the Company was reasonably likely to be subject to regulatory scrutiny; (4) that as a result of the foregoing, the Company’s financial results would be adversely affected; and (5) that as a result of the foregoing, defendants’ positive statements about the company’s business, operations and prospects were materially misleading and/or lacked reasonable basis.

Follow us for updates on LinkedIn, Twitteror facebook.

If you purchased or otherwise acquired Apyx securities during the Class Period, you may bring an action before the Court no later than 60 days from this notice ask the Tribunal to appoint you as the principal plaintiff. To be a member of the Group, you do not have to perform any action at the moment; you can retain the services of a lawyer of your choice or take no action and remain an absent member of the Class. If you would like to know more about this action, or if you have any questions about this announcement or your rights or interests in respect of these matters, please contact Charles Linehan, 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 at [email protected], or visit our website at www.glancylaw.com. If requesting by email, please include your mailing address, phone number and number of shares purchased.

This press release may be considered attorney advertising in certain jurisdictions under applicable law and ethics rules.

Comments are closed.