LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray reminds investors that they have until May 12, 2015 to seek appointment as a lead plaintiff in a class action lawsuit filed on behalf of a class (the “Class”) of purchasers of the securities of Inogen, Inc. (“Inogen” or the “Company”) (NASDAQ:INGN) between November 12, 2014 and March 11, 2015, inclusive (the “Class Period”).
The lawsuit, filed in the Central District California, alleges that Defendants made false and misleading statements and/or failed to disclose information about the accuracy of Inogen's financial statements and the effectiveness of Inogen's disclosure controls and procedures. Furthermore, Inogen failed to disclose material weaknesses in its internal controls over financial reporting, and as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.
After trading closed on March 11, 2015, the Company announced that management discovered potential violations of its internal accounting policies, which prompted an internal investigation conducted by the Audit Committee and independent advisors.
On this news, the Company's stock fell $4.24 per share, or over 11%, from its previous closing price to close at $33.10 per share on March 12, 2015, thereby damaging investors.
If you are a member of the Class described above, you may move the Court no later than May 12, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler or Lesley Portnoy of Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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