NEW YORK, May 30, 2024 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NASDAQ: TMCI). Such investors are advised to contact Danielle Peyton at [email protected] or 646-581-9980, ext. 7980.
The investigation concerns whether Treace and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On May 7, 2024, Treace issued a press release reporting its financial results for the first quarter of 2024. Among other items, Treace issued a “revise[d] guidance range for full-year 2024, expecting revenues of $201 million to $211 million from $220 million to $225 million[.]” Explaining the revised guidance, Treace’s Chief Executive Officer cited “increased use of MIS Osteotomy solutions and more competition from knockoffs of our Lapiplasty® products.” J.P. Morgan subsequently downgraded Treace, citing the revised guidance and noting that it lacks clarity over how much market share Treace can reclaim as it competes against larger orthopedic peers.
On this news, Treace’s stock price fell $6.95 per share, or 62.5%, to close at $4.17 per share on May 8, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
[email protected]
646-581-9980 ext. 7980
SOURCE Pomerantz LLP
