MiMedx shareholders resoundingly rejected an effort by ousted former chairman and CEO Parker “Pete” Petit to once again helm the battered biotech and wound-treatment company, which is embroiled in litigation claiming mismanagement and fraud cost shareholders hundreds of millions of dollars.
Monday’s vote comes in the wake of an unusually sharp attack on Petit and the company’s former leadership by MiMedx’s current board, which filed a Securities and Exchange Commission report last month accusing former executives of an ongoing pattern of deception and mismanagement, including lying to outside auditors and tapping the phones of some employees.
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