Treace Medical Concepts, Inc. Class Action Lawsuit - TMCI
Case Summary
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The Treace Medical class action lawsuit seeks to represent purchasers or acquirers of Treace Medical Concepts, Inc. (NASDAQ: TMCI) securities between May 8, 2023 and May 7, 2024, inclusive (the “Class Period”). Captioned McCluney v. Treace Medical Concepts, Inc., No. 25-cv-00390 (M.D. Fla.), the Treace Medical class action lawsuit charges Treace Medical and certain of Treace Medical’s top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Treace Medical 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 Treace Medical class action lawsuit must be filed with the court no later than June 10, 2025.
CASE ALLEGATIONS: Treace Medical is a medical technology company that designs, manufactures, and markets medical devices.
The Treace Medical class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) competition impacted the demand for and utilization of Treace Medical’s primary product, the Lapiplasty 3D Bunion Correction System (“Lapiplasty”); and (ii) as a result, Treace Medical’s revenue declined and Treace Medical 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).
The Treace Medical class action lawsuit further alleges that on May 7, 2024, Treace Medical reported its financial results for the first quarter of 2024 and fiscal year 2024 outlook, revealing that competition from minimally invasive (“MIS”) osteotomy and Lapiplasty “knockoffs” created headwinds for Lapiplasty growth, Treace Medical would release its own MIS osteotomy system, and there had been a shift in surgeon demand for Lapiplasty. On this news, the price of Treace Medical stock fell nearly 63%, according to the complaint.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Treace Medical securities during the Class Period to seek appointment as lead plaintiff in the Treace Medical 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 Treace Medical class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Treace Medical class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Treace Medical 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 and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. 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 ever – $7.2 billion – in In re Enron Corp. Sec. Litig.