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Axogen Defeats Investors’ Market Size Misrepresentation Suit

April 22, 2020, 9:09 PM

Axogen Inc. successfully fought off investor accusations that it had overstated the size of the market for its core nerve repair products when it convinced a Florida federal district judge to dismiss the case.

The investors didn’t satisfy securities fraud pleading requirements in their would-be class complaint against the human tissue company, the U.S. District Court for the Middle District of Florida said Tuesday.

Several of the statements the investors challenged fell within the Private Securities Litigation Reform Act’s safe harbor provisions, Judge Tom Barber said. The act protects certain statements that are optimistic, forward-looking, and made alongside meaningful warnings ...