NEW YORK, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Organogenesis Holdings Inc. (“Organogenesis” or the “Company”) (NASDAQ: ORGO). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Organogenesis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 12, 2021, Value Investors Club issued a report alleging issues at Organogenesis, indicating that the Company has been improperly billing the federal government for $250 million annually. The Company also set the price for its new wound covering, Affinity, "exorbitantly high[,]" which Medicare reimbursed while making the product lucrative for doctors to use through large rebates.
On this news, Organogenesis’s stock price fell $1.70, or 14%, to close at $10.35 per share on October 12, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
888-476-6529 ext. 7980