NEW YORK, May 20, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NASDAQ: TMCI) on behalf of Treace stockholders. Our investigation concerns whether Treace has violated the federal securities laws and/or engaged in 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.
If you purchased or otherwise acquired Treace shares and suffered a loss, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Marion Passmore by email at investigations@bespc.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
