We are investigating Conformis, Inc. (CFMS) (“Conformis” or the “Company”) for potential violations of the federal securities laws.
On July 31, 2019, post-market, Conformis announced its financial results for the second quarter of 2019. Conformis advised investors that it was “updating its 2019 expectations and now expects generally flat year-over-year product revenue growth for the full year 2019.” Conformist stated that its “expected decrease in growth in the second half of the year is due primarily to denials of coverage from Aetna, the third largest commercial payor.” On this news, Conformis’s stock price fell sharply during intraday trading on August 1, 2019.