1. Robbins LLP files a class action lawsuit against Treace Medical Concepts. 2. The lawsuit claims TMCI misled investors about product demand. 3. Competition allegedly reduced demand for the Lapiplasty 3D system. 4. TMCI's stock dropped 63% after the truth about revenue became public. 5. Shareholders can participate in the class action until June 10, 2025.
The stock's drastic fall of 63% indicates severe loss of investor confidence, seen often in cases of fraudulent misrepresentation. Historical instances show stocks tend to remain depressed following significant drop due to lawsuits.
The ongoing litigation represents a direct threat to TMCI’s financial stability and investor trust, critical factors influencing stock price.
Investor sentiment will likely remain negative until the lawsuit outcome is clarified, similar to previous instances where settlements took time to reveal long-term impacts on stock value.
/PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of all persons and entities that purchased or otherwise acquired Treace Medical Concepts, Inc. (NASDAQ: TMCI) securities between May 8, 2023 and May 7, 2024. The Company is focused on advancing the standard of care for the surgical management of bunion and related midfoot deformities.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
Robbins LLP is Investigating Allegations that Treace Medical Concepts, Inc. (TMCI) Misled Investors Regarding Demand for its Primary Product
According to the complaint, during the class period, defendants failed to disclose that (1) competition impacted the demand for and utilization of its primary product, the Lapiplasty 3D Bunion Correction System, and (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). Plaintiff alleges that when the truth was revealed, the price of Treace Medical's stock fell nearly 63%, to close at $4.17 per share on May 8, 2024.
You may be eligible to participate in the class action against Treace Medical Concepts, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by June 10, 2025. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP