Paragon 28, Inc. (NYSE: FNA)

This lawsuit is for anyone who acquired securities in Paragon 28, Inc. (NYSE: FNA) from May 5, 2023 through September 20, 2024.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by telling investors that the Company had sufficient controls over financial reporting when the Company lacked such controls.

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, the price of the Company’s stock dropped precipitously on unusually heavy trading volume. Then, on after the close of the market on August 8, 2024, the Company filed a report with the SEC restating its inventories and costs of goods sold for 2023. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume. Finally, after the market closed on September 20, 2024, Paragon disclosed the abrupt departure of Defendant Erik Mickelson, the Company’s Chief Accounting Officer. On this news, the price of the Company’s stock again dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Paragon 28, Inc. (NYSE: FNA) from May 5, 2023 through September 20, 2024 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.