OIG Investigation

NEW YORK (TheStreet) -- Shares of MiMedx (MDXG) fell 18.65% to $9.38 in morning trading Friday after the company announced late Wednesday it had received a subpoena from U.S. regulators.

The company, which specializes in regenerative medicine, said it received a subpoena from the Office of the Inspector General of the Department of Health and Human Services in connection with a civil investigation mostly tied to the company's sales and marketing activities.

Separately, MiMedx announced late Wednesday it had filed a federal tortious interference lawsuit against Organogenesis, the manufacturer of Apligraf and Dermagraft, two skin substitute products that compete with MiMedx's EpiFix allograft. MiMedx alleged that Organogenesis interfered with MiMedx's dealings with the Veterans Administration.

 

Dejavu. Btw. Petit fucked up by mentioning ABH. That was a disaster and now he's mirroring this to the same thing

 

Mimedx at least must eliminate some senior management for the street to think they're trying to clean up their act.

 

Oh yes and they were hired in the first place because of their changed behaviour? I think not! They were corrupt at ABH and that is why they were hired. Ever see them sell product without bribing?

 

Apligraf rules! OI will prevail!

 

The OIG!...say it ain't so...you mean it's not okay to give my doctors coins for their coin collection or leave my credit card on file at the finest restaurant in town just in case my doctor wants to learn more about my product while eating only the best...oh you mean I have to attend that dinner....and I can't send them to Hawaii or give their lovable children presents??? Silly me, I didn't know that was not allowed.

 

Haha. Damn. Is it weird that I thought of a doctor this description fits? Where you at Epifix? I know, I know. you're selling and not trolling cafe Pharma but I'd love to hear some explanation

 

yeah, me too and a few reps and managers.

 

Home office shredding documents and cursing hard drives like a seen from Wolf of Wall Street, get ready to,strap 1 on

 

that's a pretty serious allegation. anything to it, or are you just randomly throwing out things to see what sticks?

 

Another troll from OI making shit up to distract from the lawsuit we filed against them and the fact that their market share is dropping like a lead balloon. Don't believe the hype.

 

what's with all the mimedx filed lawsuits anyhow? it seems they are pretty quick to the trigger to file cases.

 

Who is OI?

 

Are they going to investigate the VA with all the money they've been giving Frykberg??

 

yeah they will investigate that as well as some of the other shady stuff that is out there. The problem is that we are going to see a significant decrease in our sales this year due to the significant increase in players to the market and our unachievable numbers. Watch the stock and it will dip into the 6's before the end of Q1.

 

LOL! This was obviously written by someone who doesn't work here. Probably an investor who shorted the stock. Get a clue before you write this shit on a board. Too many obvious holes in that statement that clearly indicate you don't work at MiMedx.

 

What's the over under on class actions law suits. Rumor has it that mimedx didn't disclose the OIG subpeona to shareholders until NYE, even though they received it in Q2 2014. Isn't that fraud?

 

Not even a fair question - lawyers organizing class actions and threatening companies replaced ambulance chasing lawyers long ago as most popular path to new business. Better call Saul!

 

Speaking of lawyers, what happened to that organogenesis lawsuit? Why did MiMedx drop it?

 

The question is just a question of fact. Is it considered fraud when a company doesn't disclose a major and impactful investigation to shareholders while public shares are being traded. I'M CERTAIN that if you look at employee shareholder sales, many stocks sales occurred after the internal announcement. Is that fraud?