Misonix, Inc. The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the USDC for the Eastern District of New York on behalf of investors who purchased Misonix, Inc. (NASDAQ: MSON) securities between November 5, 2015 and September 14, 2016.
According to the complaint, during the class period, defendants made false and/or misleading statements and/or failed to disclose that: (1) insufficiencies existed in Misonix’s internal controls over financial reporting; and (2) consequently, Defendants’ statements about Misonix’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 14, 2016, Misonix revealed that the company would delay the filing of its Annual Report on Form 10-K for the year ending June 30, 2016 due to “deficiencies [that] existed in the Company’s internal control over financial reporting at June 30, 2016.” Misonix further announced that the company’s Audit Committee was conducting an investigation related to the deficiencies. On this news, Misonix stock fell over 18%, to close at $5.00 per share on September 15, 2016.
If you suffered a loss in Misonix you have until November 18, 2016 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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