ORGO - Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Organogenesis Holdings Inc. (ORGO)
NEW YORK, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Organogenesis Holdings Inc. (“Organogenesis” or the “Company”) (NASDAQ: ORGO) in the United States District Court for the Eastern District of New York on behalf of investors who purchased or acquired the common stock of Organogenesis between March 17, 2021 and October 11, 2021, inclusive (the “Class Period”).
According to the Complaint, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Organogenesis improperly billed the federal government for its Affinity (a wound covering product) and PuraPly XT (an antimicrobial barrier) products by, among other things, setting the price for those products multiple times higher than similar products; (2) the Company improperly induced doctors to use its Affinity and PuraPly XT products through lucrative reimbursements; (3) as a result of all the foregoing, the Company’s revenue and profits derived from its Affinity and PuraPly XT products were at least in substantial part unsustainable; and (4) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Organogenesis during the Class Period should contact the Firm prior to the February 8, 2022 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com .
Please visit our website at http://www.gme-law.com for more information about the firm.