SAN DIEGO, April 24, 2025 (GLOBE NEWSWIRE) — A class action lawsuit has been filed on behalf of all persons and entities that purchased or otherwise acquired Treace Medical Concepts, Inc. (NASDAQ: TMCI) (“Treace Medical” or the “Company”) securities between May 8, 2023 and May 7, 2024 (the “Class Period”), charging the Company and certain senior executives with violations of the federal securities laws (collectively, “Defendants”).
Treace Medical investors have until June 10, 2025 to seek appointment as lead plaintiff of the Treace Medical class action lawsuit.
If you purchased or acquired Treace Medical securities between May 8, 2023 and May 7, 2024, and suffered substantial losses
, and you wish to obtain additional information or serve as lead plaintiff in this lawsuit, you may submit your information and contact us here: https://dicellolevitt.com/securities/treace-medical/.
You can also contact DiCello Levitt attorneys Brian O’Mara or Ruben Peña by calling (888) 287-9005 or emailing [email protected]. Those who inquire by email are encouraged to include their mailing address, telephone number, and the number of shares purchased.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.
Case Allegations
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 Company’s primary product is the patented Lapiplasty® 3D Bunion Correction® System, a combination of instruments, implants, and surgical methods designed to surgically correct all three planes of the bunion deformity and secure the unstable joint. Treace Medical sells these products to physicians, surgeons, hospitals, and ambulatory surgery centers in the United States.
The Treace Medical lawsuit alleges that Defendants made false or misleading statements concerning the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) competition impacted the demand for and utilization of Treace Medical’s primary product, the Lapiplasty® 3D Bunion Correction® System; and (2) as a result, Treace Medical’s revenue declined and the Company needed to accelerate its plans to offer an alternative product to osteotomy (a surgical procedure involving the cutting and realigning of bone to improve its position or function).
The truth emerged on May 7, 2024, when Treace Medical issued a press release, announcing its financial results for its first quarter of 2024 and fiscal year 2024. During the associated earnings call, Defendants revealed the business impact the Company had suffered due to competitors’ minimally invasive (“MIS”) osteotomy and “knockoffs” of its Lapiplasty® 3D Bunion Correction® System. In relevant part, Defendants stated that it has “become clear that the market environment and competitive landscape is quickly evolving, . . . we’re seeing increased use in surgeon adoption of MIS Osteotomy solutions. At the same time, we’re facing even more competition from knockoffs of our Lapiplasty products. Both of these dynamics are creating incremental headwinds to our Lapiplasty growth.”
On this news, the price of Treace Medical’s stock price fell by $6.95 per share, or nearly 63%, to close at $4.17 per share on May 8, 2024.
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