LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz reminds investors of the upcoming June 10, 2025 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Treace Medical Concepts, Inc. (“Treace Medical” or the “Company”) (NASDAQ: TMCI) securities between May 8, 2023 and May 7, 2024, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON TREACE MEDICAL CONCEPTS, INC. (TMCI), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
On May 7, 2024, after market hours, Treace Medical released its first quarter 2024 financial results and revised its full year 2024 guidance, lowering it by approximately $20 million, citing «increased use of MIS Osteotomy solutions and more competition from knockoffs of [the Company’s] Lapiplasty products.»
On this news, Treace Medical’s stock price fell $6.95, or 62.5%, to close at $4.17 per share on May 8, 2024, thereby injuring investors.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) competition impacted the demand for and utilization of its primary product, the Lapiplasty 3D Bunion Correction System (the “Lapiplasty”); (2) as a result, Treace Medical’s revenue declined and the Company needed to accelerate its plans to offer a product that was an alternative to osteotomy (a surgical procedure that involves cutting and realigning a bone to improve its position or function); and (3) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Treace securities between May 8, 2023 and May 7, 2024, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is June 10, 2025.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: info@frankcruzlaw.com
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Contact Us:
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
