Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm Encourages Treace Medical Concepts, Inc. (TMCI) Investors To Inquire About Securities Fraud Class Action

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, a leading national shareholder rights law firm, announces that a securities fraud class action lawsuit has been filed on behalf of investors who purchased or otherwise 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”). Treace Medical investors have until June 10, 2025 to file a lead plaintiff motion.

IF YOU SUFFERED A LOSS ON YOUR TREACE MEDICAL CONCEPTS, INC. (TMCI), INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS

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 Medical securities during the Class Period, you may move the Court no later than June 10, 2025 to request appointment as lead plaintiff in this putative class action lawsuit.

Contact Us To Participate or Learn More:

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:

Charles Linehan, Esq.,
Glancy Prongay & Murray LLP,
1925 Century Park East, Suite 2100,
Los Angeles California 90067
Email: [e-mail]
Telephone: [phone],
Toll-Free: 888-773-9224
Visit our website at www.glancylaw.com.
Follow us for updates on LinkedIn, Twitter, or Facebook.

If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

To be a member of the Class 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.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.