INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Tandem Diabetes Care, Inc. (TNDM) Investors

BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Tandem Diabetes Care, Inc. (“Tandem” or the “Company”) (NASDAQ: TNDM) securities between August 3, 20222 and November 2, 2022, inclusive (the “Class Period”). Tandem investors have until November 7, 2023 to file a lead plaintiff motion.

Investors suffering losses on their Tandem investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [e-mail].

On November 2, 2022, Tandem revised its 2022 financial guidance downward, forecasting Non-GAAP sales of $800 to $805 million, down from $835 to $845 million. The Company attributed the revision to increased competition in the diabetes care sector, pandemic complications, and inflation.

On this news, Tandem’s stock price fell $15.62, or 30.4%, to close at $35.72 per share on November 3, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) failed to adequately account for the potential impact of the release of Omnipod 5 and the impact of that product on the Company’s revenue; (2) deliberately misled investors regarding the impact of Omnipod 5 on revenue; (3) misled investors by creating the false impression that the factors which led to the decreased sales guidance in August – competition, COVID, and inflation – had not been adequately controlled for and were, in fact, improving; (4) deliberately misled investors when stating that the second half of 2022 had been adequately predicted; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased Tandem securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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