TMCI - Kirby McInerney LLP Announces Investigation of Shareholder Claims Against Treace Medical Concepts Inc. (TMCI)
The law firm of Kirby McInerney LLP is investigating potential claims against Treace Medical Concepts, Inc. (“Treace” or the “Company”) (NASDAQ: TMCI ). The investigation concerns whether Treace and/or certain of its officers have 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. The Company 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 the lack of clarity over how much market share Treace could reclaim as it competes against larger orthopedic peers. On this news, the price of Treace shares declined by $6.95 per share, or approximately 62.5%, from $11.12 per share on May 7, 2024 to close at $4.17 per share on May 8, 2024.
If you purchased or otherwise acquired Treace securities, have information, or would like to learn more about this investigation, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com , or by filling out this CONTACT FORM , to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars.
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Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com