Paragon 28 (FNA) faces accounting scandal, stock prices decline.

TLDR:

• Paragon 28 (FNA) facing scrutiny over financial reporting practices
• Company admitted to improper accounting leading to significant stock price decline

Paragon 28, a medical device company, is under investigation for potential financial misconduct. The company’s CFO resigned abruptly in April 2023, causing a 15% drop in share price. On July 30, the company admitted to significant accounting errors, including an understatement of cost of goods sold by 19%, resulting in a 22% overstatement of operating loss. Hagens Berman is leading the investigation to determine if Paragon 28 intentionally manipulated its financial statements.

Investors who suffered losses with Paragon 28 are encouraged to submit their losses to the firm for investigation. Whistleblowers with non-public information regarding Paragon 28 may also be eligible for rewards through the SEC Whistleblower program. Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability, with a track record of securing over $2.9 billion in settlements.