NEW YORK, NY - (NewMediaWire) - August 10, 2024 - Kaplan Fox & Kilsheimer LLP is investigating potential securities violations against Paragon 28, Inc. (FNA) (“Paragon” or the “Company”) (NYSE: FNA).

CLICK HERE TO RECEIVE MORE INFORMATION ABOUT THIS INVESTIGATION

If you are an investor in Paragon and have suffered losses, you may click here to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.

On July 30, 2024, after market hours, Paragon disclosed in a filing with the SEC that the Company’s previously issued financial statements for certain quarterly periods in 2023 and 2024 should no longer be relied upon “due to errors in such financial statements” and that a restatement of these prior financial statements is required.  Paragon also disclosed that it had “identified errors in the accounting for inventory including the calculation of its excess and obsolete inventory reserve which resulted in an overstatement of inventory as of March 31, 2023, June 30, 2023, September 30, 2023, December 31, 2023 and March 31, 2024 and an understatement in cost of goods sold for the respective interim periods ended on such dates and for the fiscal year ended December 31, 2023.”  Additionally, the Company stated that as a result of the errors and the related restatement, it had identified “one or more material weaknesses in its internal control over financial reporting.”

Following this news, the price of Paragon stock fell $1.24 per share, or 13.73%, to close at $7.79 per share on July 31, 2024.

Then, on August 8, 2024, after the market closed, Paragon issued restated financials in SEC filings to correct the previously disclosed errors in “the calculation of excess and obsolete inventory, as well as its accounting for inventory variances. . . .”

Following this news, the price of Paragon stock fell by more than 26% in intraday trading.

WHY CONTACT KAPLAN FOX - Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey.  With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand.  Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients.  For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

If you have any questions about this investigation, please contact:

Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
E-mail: pmayer@kaplanfox.com 

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com