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Misonix Inc (NASDAQ: MSON) Investor Securities Class Action Lawsuit 09/19/2016

  • You must submit the settlement Proof form attached below, in order to participate in this settlement. There is a strict deadline of November 2, 2017 by which all claims must be submitted. The instructions for submitting are included in the Proof and the Notice files attached below for your download. DO NOT SEND THE FORMS TO THE SHAREHOLDERS FOUNDATION, INC.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Misonix, Inc.
Security
NASDAQ: MSON

Case Name
Misonix Shareholder Class Action Lawsuit 09/19/2016
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Eastern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
Settlement Notice
misonix_inc_settlement_notice_9_2017.pdf
Settlement Proof
misonix_inc_settlement_proof_9_2017.pdf
Filed Complaint
misonix_inc_original_filing_edited_9_2016.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$500,000.00
Deadline to Participate in Settlement

You must register to view and download the Settlement Notice and Settlement Proof.

Summary

September 7, 2017 - The court preliminarily approved the settlement.

June 23, 2017 - A stipulation of settlement was filed by the parties.

September 19, 2016 - An investor in shares of Misonix Inc (NASDAQ: MSON) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Misonix Inc in connection with certain allegedly false and misleading statements made between November 5, 2015 and September 14, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of Misonix Inc (NASDAQ: MSON) common shares between November 5, 2015 and September 14, 2016, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between November 5, 2015 and September 14, 2016 the defendants made false and/or misleading statements and/or failed to disclose that deficiencies existed in Misonix Inc's internal controls over financial reporting, and that as a result, defendants' statements about Misonix Inc's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Misonix Inc reported that its Total Revenue rose from $17.06 million for the 12 months period that ended on June 30, 2014 to $22.20 million for the 12 months period that ended on June 30, 2015 and that its Net Income for those time periods increased from $1.13 million to $5.30 million.

On September 14, 2016, Misonix Inc disclosed that the filing of its Annual Report on Form 10-K for the fiscal year ended June 30, 2016 will be delayed pending the completion of an investigation by Misonix Inc’s Audit Committee relating to deficiencies that existed in the Misonix Inc’s internal control over financial reporting at June 30, 2016. Shares of Misonix Inc (NASDAQ: MSON) declined on September 15, 2016 to as low as $4.95 per share.

On September 19, 2016, NASDAQ: MSON shares closed at $5.32 per share.

misonix_inc_original_filing_edited_9_2016.pdf
Date Settled