SAN DIEGO, Aug. 01, 2024 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP is investigating whether Paragon 28, Inc. (NYSE: FNA) or any of its executive officers or others violated securities laws by misrepresenting or failing to timely disclose material, adverse information to investors.
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For more information, contact Jim Baker at jimb@johnsonfistel.com or (619) 814-4471
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What is Johnson Fistel investigating? On July 30, 2024, following the closure of the market, Paragon 28, Inc. filed an 8-K to the U.S. Securities and Exchange Commission (SEC) stating, “On July 30, 2024, the Audit Committee of the Board of Directors (the “Audit Committee”) of Paragon 28, Inc. (the “Company”), in consultation with management, concluded that the Company’s previously issued audited consolidated financial statements for the fiscal year ended December 31, 2023, contained within the Annual Report on Form 10-K for that year (and the associated audit report of the Company’s independent registered accounting firm) 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. Accordingly, the Company intends to restate the aforementioned financial statements by amending its Annual Report on Form 10-K for the year ended December 31, 2023 and its quarterly report on Form 10-Q for the quarter ended March 31, 2024 (the “Restated Filings”) as soon as reasonably practicable.”
Following this news, the company’s stock price dropped significantly by 13.7% on July 31, 2024.
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