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Press release content from Business Wire. The AP news staff was not involved in its creation.

Deadline Reminder: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Organogenesis Holdings Inc. (ORGO)

December 22, 2021 GMT

BENSALEM, Pa.--(BUSINESS WIRE)--Dec 22, 2021--

Law Offices of Howard G. Smith reminds investors of the upcoming February 8, 2022 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Organogenesis Holdings Inc. (“Organogenesis” or the “Company”) (NASDAQ: ORGO ) securities between March 17, 2021 and October 11, 2021, inclusive (the “Class Period”).

Investors suffering losses on their Organogenesis investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

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On October 12, 2021, an anonymous report was published on Value Investors Club, a website for investors to share ideas. The report alleged that Organogenesis has been improperly billing the federal government for $250 million annually. It also claimed that the Company had priced its new wound covering product, Affinity, “exorbitantly high” – and since Medicare reimburses for the product, the high prices make it lucrative for doctors to use through large rebates. The report claimed that Organogenesis was using a similar pricing tactic for its new PuraPly XT product.

On this news, Organogenesis’ stock fell $1.70, or 14%, to close at $10.35 per share on October 12, 2021, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (i) Organogenesis improperly billed the federal government for its Affinity and PuraPly XT products by, among other things, setting the price for those products multiple times higher than similar products; (ii) the Company improperly induced doctors to use its Affinity and PuraPly XT products through lucrative reimbursements; (iii) as a result of all the foregoing, the Company’s revenue and profits derived from its Affinity and PuraPly XT products were at least in substantial part unsustainable; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.

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If you purchased or otherwise acquired Organogenesis securities during the Class Period, you may move the Court no later than February 8, 2022 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211222005110/en/

CONTACT: Law Offices of Howard G. Smith

Howard G. Smith, Esquire

215-638-4847

888-638-4847

howardsmith@howardsmithlaw.com

www.howardsmithlaw.com

KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Law Offices of Howard G. Smith

Copyright Business Wire 2021.

PUB: 12/22/2021 11:00 AM/DISC: 12/22/2021 11:02 AM

http://www.businesswire.com/news/home/20211222005110/en