Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Apyx Medical Corporation (NasdaqGS: APYX).
On December 21, 2018, the Company announced the submission of its 510(k) application to the FDA for clearance to market its plasma-based surgical product, J-Plasma for dermal resurfacing, highlighting its support from clinical studies. However, in February 2019, White Diamond Research released a report alleging that Apyx’s clinical study on the use of J-Plasma for dermal resurfacing may have missed its endpoint. Then, on April 1, 2019, the Company disclosed that it had withdrawn its 510(k) application, citing concerns raised by the FDA, and also revealing that the J-Plasma clinical study had missed its primary efficacy endpoint.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court in that case denied the Company’s motion to dismiss, allowing the case to move forward.
KSF’s investigation is focusing on whether Apyx’s officers and/or directors breached their fiduciary duties to Apyx’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Apyx shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.