The lateral malleolus is located at the lowest end of the fibula, the outer of the two leg bones that run between the knee and ankle. The bony protrusion on the outside of the ankle is the lateral malleolus.
Fractures of the lateral malleolus require different methods of treatment depending on the severity of the injury, according to the American Academy of Orthopaedic Surgeons. If the broken lateral malleolus is not out of place and the ankle is stable, the physician may recommend that the patient wear high-top tennis shoes or a leg cast to stabilize the bone as it heals. Surgery may be required if the fractured lateral malleolus has moved the bone out of place or if the ankle is determined to be unstable.