SAN DIEGO--(BUSINESS WIRE)--Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Tandem Diabetes Care, Inc. (NASDAQ: TNDM) securities between August 3, 2022 and November 2, 2022, both dates inclusive (the “Class Period”) have until November 7, 2023 to seek appointment as lead plaintiff of the Tandem Diabetes class action lawsuit. Captioned Lowe v. Tandem Diabetes Care, Inc., No. 23-cv-01657 (S.D. Cal.), the Tandem Diabetes class action lawsuit charges Tandem Diabetes as well as certain of its top executive officers with violations of the Securities Exchange Act of 1934.
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CASE ALLEGATIONS: Tandem Diabetes is a global medical technology company that develops, manufactures, and markets a variety of consumer technologies and software for at-home diabetes care.
The Tandem Diabetes class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Tandem Diabetes misled investors by creating the false impression that the impact of competitors’ products was minimal or less than expected; (ii) Tandem Diabetes’ forecasting processes failed to adequately account for the potential impact of the release of Omnipod 5, a competing product, and the impact of that product on Tandem Diabetes’ revenue; and (iii) Tandem Diabetes created the false impression that the factors which led to decreased sales guidance in August 2022 – competition, the COVID-19 pandemic, and inflation – had been adequately controlled for and were, in fact, improving.
The Tandem Diabetes class action lawsuit further alleges that on November 2, 2022, Tandem Diabetes updated its 2022 annual guidance to lower annual sales estimates from the range of $835 million to $845 million to an updated range of $800 million to $805 million. The Tandem Diabetes class action lawsuit alleges that on this news, the price of Tandem Diabetes stock fell.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Tandem Diabetes securities during the Class Period to seek appointment as lead plaintiff of the Tandem Diabetes class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Tandem Diabetes class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Tandem Diabetes class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Tandem Diabetes class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller is one of the world’s leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs’ firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
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