NEW YORK, Oct. 10, 2024 (GLOBE NEWSWIRE) — Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”) announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Colorado on behalf of persons and entities that purchased or otherwise acquired Paragon 28, Inc. (“Paragon” or the “Company”) (NYSE: FNA) common stock between May 5, 2023 and August 8, 2024, inclusive (the “Class Period”).
CLICK HERE TO PROVIDE CONTACT INFORMATION AND JOIN THE CASE
All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses, you may, no later than November 29, 2024, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
On July 30, 2024, after market hours, Paragon disclosed that the Company’s previously issued financial statements from 2023 and 2024 should no longer be relied upon “due to errors in such financial statements” related to “accounting” and would therefore require restatements. Additionally, the Company reported that it had identified “one or more material weaknesses in its internal control over financial reporting.”
On this news, Paragon’s stock price fell $1.24, or 13.7%, to close at $7.79 per share on July 31, 2024.
Then, on August 8, 2024, after market hours, Paragon released its amended annual report for 2023 and the first quarter 2024 report, providing restated financial figures, revealing understated cost of goods sold and overstated net inventories.
On this news, Paragon’s stock price fell $1.67, or 20.1%, to close at $6.64 per share.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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