The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of AxoGen, Inc. (NASDAQ: AXGN) shareholders who purchased shares (1) pursuant and/or traceable to the November 2017 SPO; and/or (2) pursuant and/or traceable to the May 2018 SPO; and/or (3) between August 2, 2017 and December 18, 2018.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) the Company aggressively increased prices to mask lower sales; (2) the Company’s pricing alienated customers and threatened the Company’s future growth; (3) ambulatory surgery centers form a significant part of the market for the Company’s products; (4) such centers were especially sensitive to price increases; (5) the Company was dependent on a small number of surgeons whom the Company paid to generate sales; (6) the Company’s consignment model for inventory was reasonably likely to lead to channel stuffing; (7) the Company offered purchase incentives to sales representatives to encourage channel stuffing; (8) the Company’s sales representatives were encouraged to backdate revenue to artificially inflate metrics; (9) the Company lacked adequate internal controls to prevent such channel stuffing and backdating of revenue; (10) the Company’s key operating metrics, such as number of active accounts, were overstated; and (11) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until March 11, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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