Overview
- A federal complaint has been filed in the U.S. District Court for the Northern District of California under Operating Engineers Construction Industry and Misc. Pension Fund v. PROCEPT BioRobotics Corp., No. 26-cv-07691, and the case is in early stages.
- The suits allege PROCEPT ran a previously undisclosed program that offered end-of-quarter bulk discounts that pulled handpiece sales forward and inflated reported unit sales and revenues.
- Company disclosures on February 25, 2026 showed U.S. handpiece sales exceeded procedures in every quarter since Q1 2023 and identified cumulative excess field inventory of more than 10,000 units, after which management said it would end the discount program.
- Investors point to steep stock drops tied to the disclosures, including roughly 18% in late February 2026 and earlier declines after August and November 2025 earnings updates, as the basis for alleged investor losses.
- Multiple plaintiff firms are soliciting class members and lead-plaintiff applicants for the proposed class covering purchases from February 28, 2024 through February 25, 2026, with a September 22, 2026 deadline to seek lead-plaintiff status and potential claims against senior executives.