Controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2020
Department of Justice VA pricing settlement
MiMedx agreed to pay $6.5 million to resolve allegations that it charged inflated prices to the Department of Veterans Affairs.
2020
Former executives convicted in securities case
Parker H. Petit and William Taylor were convicted on different securities-fraud-related counts following a federal trial and were each sentenced to one year in prison.
2020
Scrutiny over Paycheck Protection Program loan
MiMedx's receipt of a $10 million federally backed PPP loan drew public criticism because the company had substantial employees and had recently faced serious legal and financial problems.
2019
SEC settlement over financial reporting
MiMedx agreed to pay $1.5 million to resolve SEC allegations involving materially inflated revenue and misleading periodic filings.
2018
Management and whistleblower controversy
MiMedx later alleged that former executives had authorized a covert surveillance project known as Project Snow White to target or undermine whistleblowers and had withheld information from auditors and regulators.
2018
Physician-payment reporting dispute
The company faced questions over whether payments to physicians should have been reported under the Physician Payments Sunshine Act. Reporting described a disagreement between MiMedx's interpretation and the treatment of comparable payments by competitors.
2017
Revenue-recognition and channel-stuffing allegations
Short sellers and other investors alleged that MiMedx recognized revenue improperly, including through channel stuffing. The allegations contributed to SEC and Justice Department investigations and a major corporate restructuring.