Robbins Geller sets Sept. 22 lead-plaintiff deadline in PROCEPT BioRobotics case
The firm says the lawsuit alleges misleading statements about sales, inventory and guidance at PROCEPT BioRobotics.
Robbins Geller Rudman & Dowd LLP says investors who bought PROCEPT BioRobotics common stock between Feb. 28, 2024, and Feb. 25, 2026, have until Sept. 22, 2026, to seek appointment as lead plaintiff in a securities class action in federal court in Northern California.
The notice says the complaint alleges PROCEPT and certain current and former executive officers violated the Securities Exchange Act of 1934 by making misleading statements about handpiece sales, customer inventory and 2025 guidance.
PROCEPT BioRobotics is a medical technology company that sells surgical devices used to treat benign prostatic hyperplasia, a noncancerous enlargement of the prostate. According to the notice, the case is captioned Operating Engineers Construction Industry and Miscellaneous Pension Fund v. PROCEPT BioRobotics Corporation, No. 26-cv-07691 (N.D. Cal.).
The notice says the complaint alleges PROCEPT used an undisclosed discount program to encourage bulk orders beyond procedure demand. It says that practice allegedly pulled forward sales, inflated reported U.S. handpiece unit sales and revenue, and left customers with excess stock. The complaint also alleges more than 10,000 excess units by the end of the class period.
The notice identifies three dates it calls corrective disclosures.
On Aug. 6, 2025, PROCEPT reportedly said second-quarter 2025 U.S. handpiece sales were about 12,750 units. The notice says Kevin Waters said the company expected about 13,350 units in the following quarter, below consensus estimates of more than 13,840 units, and Reza Zadno said PROCEPT was eliminating the chief commercial officer role. The notice says the stock fell about 16% over two trading days after that announcement.
On Nov. 4, 2025, PROCEPT reportedly said third-quarter 2025 handpiece sales totaled 13,225 units, missing prior guidance. The notice says Waters cut annual handpiece sales guidance from 53,000 units to 52,000 units to allow for “optimization of field inventory,” and Larry L. Wood said the company had not been “managing customer inventory by establishing par levels” and that some customers were “probably carrying too much inventory.” The notice says the stock fell more than 10% over two trading days after that report.
On Feb. 25, 2026, PROCEPT reportedly said handpiece sales had exceeded procedures in every quarter since the first quarter of 2023 and that cumulative excess field inventory was more than 10,000 units. The notice says quarterly U.S. handpiece sales fell from 13,225 units in the third quarter of 2025 to 9,400 units in the fourth quarter, a sequential drop of nearly 30%, and that the stock fell more than 18% over two trading days.
Robbins Geller says investors do not need to serve as lead plaintiff to share in any potential recovery. The firm says investors with substantial losses can contact attorneys Ken Dolitsky or Michael Albert.
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