PHILADELPHIA, Nov. 23, 2024 (GLOBE NEWSWIRE) — Nationally acknowledged regulation agency Berger Montague PC informs traders {that a} lawsuit was filed towards Paragon 28, Inc. (Paragon 28 or the Firm) (NYSE: FNA) on behalf of purchasers of Paragon 28 securities between Could 5, 2023 and September 20, 2024, inclusive (the Class Interval).
Traders that suffered losses from PARAGON 28 (NYSE: FNA) investments can comply with the hyperlink beneath for extra data relating to the lawsuit:
CLICK HERE to be taught extra concerning the lawsuit.
Traders who bought or acquired PARAGON 28 securities throughout the Class Interval might, no later than NOVEMBER 29, 2024, search to be appointed as a lead plaintiff consultant of the category.
In keeping with the lawsuit, Defendants misled traders all through the Class Interval as to the truth that: (i) Paragon 28’s monetary statements had been misstated; and (ii) Paragon 28 lacked enough inside controls and at occasions understated the extent of the problems with Paragon 28’s inside controls.
Traders started to be taught the reality on July 30, 2024, when Paragon 28 disclosed that its beforehand issued audited consolidated monetary statements for the fiscal yr ended December 31, 2023 . . . and the unaudited condensed consolidated monetary statements contained throughout the Quarterly Reviews on Type 10-Q for the quarterly intervals ended March 31, 2023, June 30, 2023, September 30, 2023, and March 31, 2024 ought to now not be relied upon on account of errors in such monetary statements, and subsequently a restatement of those prior monetary statements is required.
On this information, the worth of Paragon 28 shares fell 13% to shut at $7.79 per share on July 31, 2024.
The grievance additional alleges that on August 8, 2024, Paragon 28 filed an amended Annual Report on Type 10-Okay/A for the yr ended December 31, 2023 that included restated 2023 figures for inventories, internet and value of products offered. On this information, the worth of Paragon 28 widespread inventory fell greater than 20% to shut at $6.64 per share on August 9, 2024.
Lastly, on September 20, 2024, Paragon disclosed that Chief Accounting Officer Erik Mickelson was abruptly leaving the Firm. On this information, Paragon shares declined $0.30 per share, or 4.3%, to shut at $6.57 per share on September 23, 2024.
For added data or to discover ways to take part on this litigation, please contact Berger Montague: Andrew Abramowitz at aabramowitz@bm.internet or (215) 875-3015, or Peter Hamner at phamner@bm.internet or (215) 875-3048, or CLICK HERE.
A lead plaintiff is a consultant social gathering who acts on behalf of all class members in directing the litigation. The lead plaintiff is often the investor or small group of traders who’ve the biggest monetary curiosity and who’re additionally enough and typical of the proposed class of traders. The lead plaintiff selects counsel to signify the lead plaintiff and the category and these attorneys, if accredited by the courtroom, are lead or class counsel. Your potential to share in any restoration is just not, nonetheless, affected by the choice whether or not or to not function a lead plaintiff. Speaking with any counsel is just not essential to take part or share in any restoration achieved on this case. Any member of the purported class might transfer the Courtroom to function a lead plaintiff by means of counsel of his/her alternative, or might select to do nothing and stay an inactive class member.
Berger Montague, with workplaces in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class motion litigation since its founding in 1970. Berger Montague has represented particular person and institutional traders for over 5 a long time and serves as lead counsel in courts all through america.
Contacts:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
aabramowitz@bm.internet
Peter Hamner
Berger Montague PC
(215) 875-3048
phamner@bm.internet
