He sold 184,000 shares recently when the government announced they would pursue their insider trading case against Pete. Now he sells 10,000 more on the same day as the FDA letter. I'm not going to comment on the legality, but the perception sure isn't good.
I'm all for them putting the company up for sale now, regardless of the outcome with the FDA.
I still think the story stays intact but this is way too much drama. One of the real downsides of this is the time management will now have to spend screwing around with all these plaintiffs firms. Answering all those interrogartories will consume time better used to grow the company. I might regret it but i was able to buy some shares in the AH for sub $4.
Read the 2012 FDA Inspection Report at the Mimedx website. It was issued in December and covers their July-August 2012 inspection and makes mention of the injectibles but absolutely nothing about that they might be considered drugs.
You actually thing MDXG's attorneys woudl have allowed Taylor to trade had there been a belief that this was material. The ffreaking "OK letter" is posted on MDXG's website from last December where the FDA said "everything's cool". What a total joke the FDA is.
The whole issue presented by the FDA either reeks of incompetence on their part or skullduggery on their part and I don't know which is worse. I only hope Mimedx can get to the heart of the issue and correct any error on their part quickly or expose the FDA as biased if that's the case.