Paragon 28, Inc. Class Action Lawsuit - FNA
Case Summary
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The Paragon 28 class action lawsuit seeks to represent purchasers or acquirers of Paragon 28, Inc. (NYSE: FNA) common stock and those who purchased Paragon 28 call options or sold put options between May 5, 2023 and August 8, 2024, inclusive (the “Class Period”). Captioned Ellington v. Paragon 28, Inc., No. 24-cv-02712 (D. Colo.), the Paragon 28 class action lawsuit charges Paragon 28 and certain of Paragon 28’s top current and former executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Paragon 28 class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Paragon 28 class action lawsuit must be filed with the court no later than November 29, 2024.
CASE ALLEGATIONS: Paragon 28 develops, distributes, and sells foot and ankle surgical systems.
The Paragon 28 class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Paragon 28’s financial statements were misstated; and (ii) Paragon 28 lacked adequate internal controls and at times understated the extent of the issues with Paragon 28’s internal controls.
The Paragon 28 class action lawsuit further alleges that on July 30, 2024, Paragon 28 disclosed that it concluded that Paragon 28’s “previously issued audited consolidated financial statements for the fiscal year ended December 31, 2023 . . . and the unaudited condensed consolidated financial statements contained within the Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2023, June 30, 2023, September 30, 2023, and March 31, 2024 should no longer be relied upon due to errors in such financial statements, and therefore a restatement of these prior financial statements is required.” On this news, the price of Paragon 28 common stock fell nearly 14%, according to the complaint.
Then, on August 8, 2024, the Paragon 28 class action lawsuit further alleges that Paragon 28 filed an amended annual report on Form 10-K/A for the year ended December 31, 2023 that included restated 2023 figures for inventories, net and cost of goods sold. On this news, the price of Paragon 28 common stock fell more than 20%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or otherwise acquired Paragon 28 common stock and those who purchased Paragon 28 call options or sold put options during the Class Period to seek appointment as lead plaintiff in the Paragon 28 class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Paragon 28 class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Paragon 28 class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Paragon 28 class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud cases. Our Firm has been #1 in the ISS Securities Class Action Services rankings for six out of the last ten years for securing the most monetary relief for investors. We recovered $6.6 billion for investors in securities-related class action cases – over $2.2 billion more than any other law firm in the last four years. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig.