An investigation on behalf of investors in Treace Medical Concepts, Inc. (NASDAQ:TMCI) shares over potential wrongdoing at Treace Medical Concepts, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 01/27/2023 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at Treace Medical Concepts, Inc.
Investors who purchased shares of Treace Medical Concepts, Inc. (NASDAQ: TMCI) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Treace Medical Concepts, Inc. (directors breached their fiduciary duties and caused damage to the company and its shareholders.
Ponte Vedra, FL based Treace Medical Concepts, Inc., an orthopedic medical device company, engages in the design, manufacture, and marketing of medical devices for foot and ankle surgeons in the United States.
Treace Medical Concepts, Inc. reported that its Total Revenue rose from $57.36 million in 2020 to $94.41 million in 2021, and that its Net Loss increased from $3.66 million in 2020 to $20.55 million in 2021.
On November 15, 2022, Culper Research published a short report on Treace Medical Concepts, Inc. (the "Culper Report"). The Culper Report expressed the "view that Treace's primary innovation has not been in any sort of medical advancements, but in aggressive reimbursement practices and deceptive DTC marketing," which the Culper Report described "as problematic and self-defeating, as insurers appear to have begun placing Lapiplasty procedure reimbursements under scrutiny while customer complaints about misleading claims from Treace are mounting."
Shares of Treace Medical Concepts, Inc. (NASDAQ: TMCI) declined from $24.99 to $19.34 per share on November 15, 2022.
Those who purchased shares of Treace Medical Concepts, Inc. (NASDAQ: TMCI) have certain options and should contact the Shareholders Foundation.
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