MiMedx shares tumble on internal accounting investigation, delayed 2017 earnings

This article was originally published here

MiMedx (NSDQ:MDXG) shares have lost nearly a third of their value today after the company announced it is delaying the release of its 2017 financial results due to an internal investigation into alleged issues with sales and distribution practices at the company.

The Marietta, Ga.-based company said that its board’s audit committee has tapped a group of independent legal and accounting advisors to conduct an internal investigation into the matters, and that company executives are also reviewing the “accounting treatment of certain distributor contracts.”

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