Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Treace Medical To Contact Him Directly To Discuss Their Options
If you suffered losses exceeding $50,000 in Treace Medical between May 8, 2023, and May 7, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK, April 15, 2025 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Treace Medical Concepts, Inc. ("Treace" or the "Company") (NASDAQ: TMCI) and reminds investors of the June 10, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose 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) Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On May 7, 2024, after market hours, when the Company issued a press release reporting, among other things, that it lowered its full-year 2024 revenue guidance from between $220 million and $225 million to between $201 million and $211 million. During the associated earnings call the same day, Defendants revealed competition from minimally invasive osteotomy and Lapiplasty "knockoffs" created headwinds for Lapiplasty growth.
On this news, the Company's stock price fell $6.95, or nearly 63%, to close at $4.17 per share on May 8, 2024, on unusually high trading volume.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Treace's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Treace class action, go to www.faruqilaw.com/TMCI or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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