PR Newswire
Executive Accountability: Hisham Shiblaq is named as a secondary defendant in allegations that PROCEPT BioRobotics investors suffered steep losses after handpiece demand, procedure activity, and field inventory levels were allegedly misrepresented.
NEW YORK, Aug. 12, 2026 /PRNewswire/ — Levi & Korsinsky, LLP notifies investors in PROCEPT BioRobotics Corporation (NASDAQ: PRCT) that Hisham Shiblaq, the Company’s former Chief Commercial Officer, is named as a defendant in a pending securities class action involving Hisham Shiblaq PROCEPT securities defendant liability. Learn more about the case. Joseph E. Levi, Esq. can be reached at [email protected] or (212) 363-7500.
PRCT shares allegedly declined by more than 75%, falling from an all-time Class Period high of approximately $100.00 per share to less than $25.00 per share, representing a decline of more than $75.00 per share. LEAD PLAINTIFF DEADLINE: September 22, 2026.
Hisham Shiblaq’s Role During the Class Period
The complaint identifies Shiblaq as PROCEPT’s Chief Commercial Officer from March 2019 until September 2025. As named in the action, he allegedly participated in investor communications concerning procedure volume, surgeon adoption, customer utilization, and the Company’s commercial execution.
The filing states that PROCEPT’s recurring revenue model depended heavily on handpiece sales tied to use of AquaBeam Robotic Systems. The action claims investors were not told that an alleged discount program incentivized bulk handpiece orders that exceeded underlying procedure demand.
Hisham Shiblaq’s Alleged Role
- The complaint identifies Shiblaq as the commercial executive responsible for sales-related operations during much of the Class Period.
- Plaintiffs allege he discussed procedure volume trends while the Company was allegedly building excess field handpiece inventory.
- The action claims PROCEPT’s reported handpiece sales appeared to support increasing utilization, while actual procedure data was not disclosed to investors.
- Shiblaq’s September 2025 departure was announced after PROCEPT reported deteriorating handpiece shipments and before later disclosures about inventory and discounting.
- The complaint contends the commercial organization was central to the alleged gap between handpiece unit sales and actual procedures.
Section 20(a) Context for Hisham Shiblaq
Plaintiffs assert claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5. For investors, the practical issue is whether senior officers allegedly had control over public statements and commercial information that affected PRCT’s market price.
“Individual officers with responsibility for commercial execution may face close scrutiny when investors are allegedly told one story about demand while later disclosures point to inventory and ordering practices that materially affected results,” said Joseph E. Levi, Esq., managing partner of Levi & Korsinsky. “Here, the complaint focuses on whether investors received complete information about the relationship between handpiece sales, procedures, and field inventory.”
Submit your information here or call (212) 363-7500.
WHY LEVI & KORSINSKY — Ranked in ISS Securities Class Action Services’ Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Investors who suffered losses have until September 22, 2026 to seek appointment as lead plaintiff.
Frequently Asked Questions About the PRCT Lawsuit
Q: Who is eligible to participate in the PRCT investor lawsuit? A: Investors who purchased PRCT stock or securities between February 28, 2024 and February 25, 2026 and suffered financial losses may be eligible. Eligibility is based on purchase date and documented losses, not on whether you still hold the shares.
Q: What specific misstatements does the PRCT lawsuit allege? A: The complaint alleges PROCEPT BioRobotics Corporation made materially false or misleading statements regarding handpiece utilization, customer ordering patterns, procedure demand, field inventory, and the impact of an undisclosed discount program during the Class Period. When the Company disclosed actual procedure data and the extent of excess handpiece inventory, the stock price declined sharply.
Q: What court was the PRCT class action filed in? A: The case was filed in the United States District Court for the Northern District of California, San Jose Division, and is governed by the Private Securities Litigation Reform Act of 1995.
Q: What is a lead plaintiff and why does it matter? A: A lead plaintiff is the investor appointed by the court to represent the entire class. Lead plaintiffs are typically investors with the largest documented losses. Being appointed does not increase individual recovery but gives direct oversight of how the case is run.
Q: What documents should PRCT investors preserve? A: Investors should preserve brokerage statements or trade confirmations showing purchase dates, share quantities, prices paid, and any subsequent sale dates and prices.
Q: What if I already sold my PRCT shares, can I still recover losses? A: Yes. Eligibility is based on when you purchased, not whether you still hold the shares. Investors who bought during the Class Period and sold at a loss may still be eligible to participate.
Q: What does it cost me to participate? A: There is no upfront cost to request an evaluation. Securities class actions are generally handled on a contingency basis. No upfront fees, no retainer, and no out-of-pocket costs. Any attorneys’ fees and expenses awarded to class counsel are subject to court approval.
CONTACT:
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
Ed Korsinsky, Esq.
33 Whitehall Street, 27th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171
Attorney Advertising. Prior results do not guarantee similar outcomes.
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SOURCE Levi & Korsinsky, LLP
