MiMedx Shares Plunge On U.S. Sales, Marketing Probe

Shares of MiMedx Group Inc. plunged late Wednesday after the bioimplant company said U.S. regulators are investigating its sales and marketing practices. MiMedx shares fell 9% to $10.51 on heavy volume. The company said it received a subpoena from the inspector general of the U.S. Department of Health and Human Services related to a civil investigation. Seperately, MiMedx said it is suing Organogenesis Inc., alleging the company interfered with contracts MiMedx had with the Veterans Administration. During Wednesday's regular session, MiMedx shares closed up 4% after the company said late Tuesday it planned to exceed revenue forecasts for the fourth quarter.