WILMINGTON, Del., Sept. 20, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Misonix, Inc. (NASDAQ:MSON)?
- Did you purchase your shares between November 5, 2015 and September 14, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities that purchased the common stock of Misonix, Inc. (“Misonix” or the “Company”) (NASDAQ:MSON) between November 5, 2015 and September 14, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Misonix during the Class Period, or purchased shares prior to the Class Period and still hold Misonix, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/misonix-inc-mson.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) deficiencies existed in the Company’s internal controls over financial reporting; and (2) as a result, Defendants’ statements about Misonix’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on September 14, 2016, during aftermarket hours, Misonix filed a Notification of Late Filing on Form 12b-25 with the SEC revealing that the Company is not able to timely file its Annual Report on Form 10-K for the year ending June 30, 2016 with the SEC due to “deficiencies [that] existed in the Company’s internal control over financial reporting at June 30, 2016.”
On this news, shares of Misonix dropped over 18%, closing at $5.00 per share on September 15, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than November 18, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
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