The legal action centers on a pattern of disclosures between August 2025 and February 2026. Procept initially signaled trouble when it reported second-quarter sales of approximately 12,750 handpieces, followed by guidance that fell short of analyst expectations. By November 2025, the company further reduced its annual sales targets, with leadership admitting to failures in managing customer inventory levels.

The situation escalated in February 2026, when Procept disclosed that handpiece sales had materially outpaced actual medical procedures since early 2023. This discrepancy resulted in an excess field inventory of more than 10,000 units. Simultaneously, the company reported a nearly 30% sequential drop in quarterly U.S. handpiece sales, leading to three consecutive periods of significant market value erosion. Shareholders who acquired PROCEPT securities during the class period must petition the Court by September 22, 2026, to serve as Lead Plaintiff.