MiMedx’s Petit Charged With Fraud Exposed by Short-Sellers

MiMedx Group Inc. was going to be Parker H. Petit’s last act -- the final chapter of a long career building and selling health care companies.

For years, the maker of skin grafts repeatedly beat its quarterly revenue targets. Its market value briefly touched $2 billion. At its headquarters in Marietta, Georgia, rumors swirled about an eventual sale to a bigger rival.

But Petit, 80, never got to sell the company. Instead, he was terminated for cause last year after a months-long battle with short sellers. On Tuesday, an indictment was unsealed accusing him and his longtime deputy of ...