Paragon 28 (FNA) confesses to accounting error, shares plummet.

TLDR:

• Paragon 28 (FNA) experienced a sharp decline in share price after admitting to improper accounting.
• The company lowered its revenue forecast, announced layoffs, and replaced its finance chief.

Paragon 28, Inc. (FNA) suffered a significant drop in its share price after acknowledging accounting irregularities, leading to a decrease in shareholder value. The medical device company revised its revenue forecast, implemented layoffs, and made changes in its financial leadership. The firm admitted to material weaknesses in internal controls and disclosed significant accounting errors, including understating its cost of goods sold. Hagens Berman is conducting an investigation into potential violations of U.S. securities laws related to these issues. Investors with substantial losses or information relevant to the investigation are encouraged to contact the firm.