- MiMedx Group (NASDAQ:MDXG) has settled its lawsuit with former employee Harold Purdy who agreed to pay a "substantial six-figure settlement" as restitution and reimbursement of the company's legal expenses. Mr. Purday admitted that all of the products he sold into his accounts were used and not returned adding, "Although I originally filed counter-claims, I learned through the discovery process that I was incorrect. I am therefore dismissing those claims and we have settled this case, and I apologize for my error. I do not have any personal knowledge about alleged 'channel-stuffing' by the Company."
- The company says it is confident that it will settle matters with the other terminated employees.
- Previously: MiMedx responding to SEC subpoena related to whistleblower allegations, says revenue recognition policies proper (Sept. 21)
- Now read: Axovant's intepirdine fails to beat placebo in late-stage Alzheimer's study
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