Investors Alert: Potential Class Action Against PROCEPT BioRobotics and Hisham Shiblaq

Investor Alert: Class Action Against PROCEPT BioRobotics Corporation

Investors in PROCEPT BioRobotics Corporation (NASDAQ: PRCT) are urged to take notice of a potential class action lawsuit in light of significant financial losses experienced due to alleged misrepresentation by company executives. The firm Levi & Korsinsky LLP has informed shareholders that Hisham Shiblaq, the former Chief Commercial Officer of PROCEPT, is named as a defendant in this action, which aims to address the damages caused by misleading statements regarding the company’s performance.

Background on PROCEPT BioRobotics

PROCEPT BioRobotics has positioned itself within the medical device sector, specializing in robotic-assisted surgical tools. However, the company's recent disclosures and financial reports have raised eyebrows among investors, prompting scrutiny over their sales practices, particularly in the context of the AquaBeam Robotic Systems. Investors claim that misleading communications regarding procedure volumes and product demand have resulted in steep declines in share value.

Allegations Against Hisham Shiblaq

Hisham Shiblaq's tenure from March 2019 to September 2025 saw him heavily involved in investor communications linked to the company's sales strategies and market uptake of its products. According to the lawsuit, PROCEPT’s revenue model was allegedly reliant on the sales of surgical handpieces that are tied to the use of its robotic systems. The claim asserts that investors were not adequately informed about a discount program encouraging bulk purchasing, which skewed the apparent demand for these handpieces and contributed to excess inventory levels.

The crux of the allegations centers upon accusations that Shiblaq misrepresented the facts concerning procedure volume amidst a build-up of excess inventory, thereby misleading investors about the company’s actual performance. Under his leadership, investors were presented a narrative of increasing demand, which did not reflect the severe inventory issues that later emerged.

Consequences and Investor Response

The repercussions of these alleged misstatements have been profound, with shares of PROCEPT plummeting by over 75%—from a high of approximately $100 to below $25 per share. This drastic drop has left investors clamoring for accountability as they look to participate in the class action before the September 22, 2026 lead plaintiff deadline.

Joseph E. Levi, Esq. of Levi & Korsinsky provided insight into the implications of the allegations, noting that executives like Shiblaq may face significant scrutiny due to their roles in maintaining and communicating corporate integrity and transparency. Investors are being encouraged to gather essential documentation that reflects their transactions in PROCEPT shares to validate their claims.

Legal Proceedings

The lawsuit has been filed in the United States District Court for the Northern District of California and hinges on claims grounded in the Securities Exchange Act of 1934. Importantly, it will be governed by the Private Securities Litigation Reform Act of 1995, which sets forth specific guidelines for class action lawsuits.

221investors who have suffered financial losses during the class period—specifically between February 28, 2024, and February 25, 2026—are eligible to file claims regardless of their current stake in the company. As stated by the firm, potential participants can opt into the proceedings without any upfront costs, as many class actions are managed on a contingency basis, aligning lawyer compensation with successful outcomes.

Conclusion

With a growing number of disgruntled shareholders seeking recourse, this case marks a critical moment for PROCEPT BioRobotics and highlights the importance of corporate governance and accountability. As the legal landscape evolves, affected investors should remain vigilant and proactive in securing their interests against potentially misleading corporate practices. For more information or to discuss eligibility, interested investors can contact Levi & Korsinsky at (212) 363-7500 or via email at [email protected].