A securities class action has been filed in the USDC – M.D.FL. against Treace Medical Concepts, Inc. (TMCI) (“Treace” or the “Company”), on behalf of all persons and entities that purchased or otherwise acquired Treace securities between May 23, 2023, and May 7, 2024, both dates inclusive (the “Class Period).
Defendant Treace Medical is a medical technology company focused on advancing the standard of care for the surgical management of bunion and related midfoot deformities.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed 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, thereby harming investors.
If you purchased Treace 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”.