Apyx Medical Corporation (NASDAQ: APYX) Investor Securities Class Action Lawsuit 04/17/2019

If you purchased a significant amount of shares of Apyx Medical Corporation (NASDAQ: APYX) between August 1, 2018, and April 1, 2019,, and / or if you purchased any NASDAQ: APYX shares prior to August 2018, and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: June 17, 2019. NASDAQ: APYX investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Apyx Medical
Case Name: 
Apyx Medical Shareholder Class Action Lawsuit 04/17/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: APYX
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
04/17/2019
Class Period Begin: 
08/01/2018
Class Period End: 
04/01/2019
Court of Filing: 
U.S. District Court for the Middle District of Florida
Deadline To File for Lead: 
06/17/2019
Summary: 

An investor in shares of Apyx Medical Corporation (NASDAQ: APYX) filed a lawsuit in the U.S. District Court for the Middle District of Florida over alleged violations of Federal Securities Laws by Apyx Medical Corporation in connection with certain allegedly false and misleading statements made between August 1, 2018, and April 1, 2019.

Clearwater, FL based Apyx Medical Corporation f/k/a/ Bovie Medical Corporation, a medical technology company, manufactures and sells medical devices in the cosmetic and surgical markets worldwide. Apyx Medical Corporation reported that its annual Total Revenue rose from $10.23 million in 2017 to $16.68 million in 2018 and that its Net Loss of $5.06 million in 2017 turned into a Net Income of $64 million in 2018.

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.
Then, on April 1, 2019, Apyx Medical Corporation announced that it had withdrawn its 510(k) application for the use of J-Plasma for dermal resurfacing, citing concerns raised by the FDA.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 Medical Corporation 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 Medical Corporation disclosed that the clinical study did not meet its primary efficacy endpoint.

Shares of Apyx Medical Corporation (NASDAQ: APYX) declined to as low as $3.55 per share on April 2, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Apyx Medical Corporation (NASDAQ: APYX) common shares between August 1, 2018, and April 1, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 1, 2018, and April 1, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that the clinical study on the use of J-Plasma for dermal resurfacing had not met its primary efficacy endpoint, that, as a result, the clinical study did not support the Company’s application for regulatory clearance, that, as a result, the Company was unlikely to receive regulatory approval of J-Plasma for dermal resurfacing, and 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.