A securities class action has been filed in the USDC — CO. against Paragon 28, Inc. (FNA) (“Paragon 28” or the “Company”), on behalf of all persons or entities that purchased or otherwise acquired Paragon 28 securities between May 5, 2023 and September 20, 2024, both dates inclusive (the “Class Period”).

 

Defendant Paragon 28 states that it “develops, distributes, and sells medical devices in the foot and ankle segment of the orthopedic implant marketplace.”

 

The Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements and failed to disclose vital information to investors, including that Paragon 28:

 

(1) understated its Adjusted EBITDA losses;

(2) overstated its net inventories;

(3) understated required provisions for excess and obsolete inventory;

(4) understated its cost of goods sold;

(5) overstated gross profit;

(6) understated operating loss;

(7) understated net loss;

(8) lacked adequate disclosure controls and procedures and internal control over financial reporting;

(9) would be required to restate its financial statements to conform with generally accepted accounting principles; and

(10) as a result of the foregoing Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis, thereby harming investors.

 

 

If you purchased Paragon 28 securities during the class period and would like to receive more information or join the action, please enter your contact information below for a FREE consultation and click “Submit Your Information”.

 

About Lowey Dannenberg

Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.