Defendant Name: MiMedx Group, Inc.

Defendant Type: Public Company
SIC Code: 9999
CUSIP: 60249610

Initial Case Details

Legal Case Name SEC v. MiMedx Group, Inc., Parker H. Petit, William C. Taylor, Michael J. Senken
First Document Date 26-Nov-2019
Initial Filing Format Civil Proceeding
Case Number 19-cv-10927
Allegation Type Issuer Reporting and Disclosure
Federal District Court New York, Southern District of New York

Violations Alleged

Exchange Act
• Sec 10(b) + Rule 10b-5
• Rule 12b-20
• Sec 13(a)
• Rule 13a-1
• Rule 13a-11
• Rule 13a-13
• Sec 13(b)(2)(A)
• Sec 13(b)(2)(B)
Securities Act
• Sec 17(a) (Not specified)
Additionally, Parker H. Petit is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Parker H. Petit is alleged to have controlled MiMedx Group, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
William C. Taylor is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
William C. Taylor is alleged to have controlled MiMedx Group, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Michael J. Senken is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 10(b) + Rule 10b-5 of the Exchange Act.
Parker H. Petit is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Parker H. Petit is alleged to have controlled MiMedx Group, Inc.'s violation of Rule 12b-20 of the Exchange Act.
William C. Taylor is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 12b-20 of the Exchange Act.
William C. Taylor is alleged to have controlled MiMedx Group, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Michael J. Senken is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 12b-20 of the Exchange Act.
Parker H. Petit is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 13(a) of the Exchange Act.
Parker H. Petit is alleged to have controlled MiMedx Group, Inc.'s violation of Sec 13(a) of the Exchange Act.
William C. Taylor is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 13(a) of the Exchange Act.
William C. Taylor is alleged to have controlled MiMedx Group, Inc.'s violation of Sec 13(a) of the Exchange Act.
Michael J. Senken is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 13(a) of the Exchange Act.
Parker H. Petit is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Parker H. Petit is alleged to have controlled MiMedx Group, Inc.'s violation of Rule 13a-1 of the Exchange Act.
William C. Taylor is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-1 of the Exchange Act.
William C. Taylor is alleged to have controlled MiMedx Group, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Michael J. Senken is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-1 of the Exchange Act.
Parker H. Petit is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Parker H. Petit is alleged to have controlled MiMedx Group, Inc.'s violation of Rule 13a-11 of the Exchange Act.
William C. Taylor is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-11 of the Exchange Act.
William C. Taylor is alleged to have controlled MiMedx Group, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Michael J. Senken is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-11 of the Exchange Act.
Parker H. Petit is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Parker H. Petit is alleged to have controlled MiMedx Group, Inc.'s violation of Rule 13a-13 of the Exchange Act.
William C. Taylor is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-13 of the Exchange Act.
William C. Taylor is alleged to have controlled MiMedx Group, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Michael J. Senken is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Rule 13a-13 of the Exchange Act.
Parker H. Petit is alleged to have controlled MiMedx Group, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
William C. Taylor is alleged to have controlled MiMedx Group, Inc.'s violation of Sec 13(b)(2)(A) of the Exchange Act.
Parker H. Petit is alleged to have controlled MiMedx Group, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
William C. Taylor is alleged to have controlled MiMedx Group, Inc.'s violation of Sec 13(b)(2)(B) of the Exchange Act.
Parker H. Petit is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 17(a) (Not specified) of the Securities Act.
William C. Taylor is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 17(a) (Not specified) of the Securities Act.
Michael J. Senken is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Sec 17(a) (Not specified) of the Securities Act.
Parker H. Petit is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Section 13(b) Exchange Act.
William C. Taylor is alleged to have aided and abetted MiMedx Group, Inc.'s violation of Section 13(b) Exchange Act.

Resolutions

First Resolution Date 26-Nov-2019
Headline Total Penalty and Disgorgement $1,500,000

Related Documents:

comp24678 26-Nov-2019 Complaint
Complaint and Jury Demand
The SEC stated: "From 2013 through the third quarter of 2017 (the "Relevant Period"), MiMedx, a biotechnology company that specializes in selling wound care and surgical products, engaged in a wide-ranging fraud designed to artificially inflate the company's reported revenue."
LR-24678 26-Nov-2019 Litigation Release
SEC Charges Biotech Company and Executives with Accounting Fraud
The SEC stated that: "[It] charged Georgia-based biotech company MiMedx Group Inc. and three former top executives with defrauding investors by misstating the company's revenue and attempting to cover up their misconduct."
2019-243 26-Nov-2019 Press Release--Civil Action
SEC Charges Biotech Company and Executives With Accounting Fraud
The SEC stated that: "[It] charged Georgia-based biotech company MiMedx Group Inc. and three former top executives with defrauding investors by misstating the company’s revenue and attempting to cover up their misconduct. MiMedx has agreed to a settlement to resolve the claims."
court_doc18_19-cv-10927 04-Dec-2019 Court Docket Document
Final Judgment as to Defendant MiMedx Group, Inc.
On December 4, 2019, the Court issued a final judgment as to Defendant MiMedx Group, Inc. the Court Stated that Defendant "consented to the Court's jurisdiction over Defendant and the subject matter of this action; consented to entry of this Final Judgement without admitting or denying the allegations of the complaint (except as to jurisdiction); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment."

Other Defendants in Action:

Parker H. Petit
William C. Taylor
Michael J. Senken

Related Actions:

In the Matter of Paul L. Chancey, Jr., CPA
Paul L. Chancey, Jr. CPA
In the Matter of Michael J. Senken
Michael J. Senken