Full Press Release Details
NEW YORK, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
Do you, or did you, own shares of Tandem Diabetes Care, Inc. (NASDAQ: TNDM)?
Did you purchase your shares between August 3, 2022 and November 2, 2022, inclusive?
Did you lose money in your investment in Tandem Diabetes Care, Inc.?
Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Tandem Diabetes Care, Inc. (“Tandem” or the “Company”) (NASDAQ: TNDM) between August 3, 2022 and November 2, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Southern District of California and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Tandem securities, and/or would like to discuss your legal rights and options please visit Tandem Diabetes Care, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
According to the Complaint, Tandem is a global medical technology company that develops, manufactures, and markets a variety of consumer technologies and software for at-home diabetes care. The Company’s flagship product is the “t:slim X3,” an at-home insulin pump approved by the FDA. The Company also produces web-based applications which assist users in monitoring and treating diabetes.
Plaintiff alleges that Defendants projected Tandem’s estimated annual 2022 sales “in the range of $835 million to $845 million, which represents an annual growth of 19 percent to 20 percent compared to 2021.” Plaintiff alleges that these statements were materially misleading and concealed material adverse facts.
On November 2, 2022, Tandem, in an investment call and Form 8-K filing, revised its 2022 forecast downward substantially, to $800 to $805 million. Reasons stated for the scale-back included increased competition in the diabetes care sector, complications due to the COVID pandemic, and macroeconomic factors such as inflation.
On this news, Tandem’s common stock fell $14.57 per share, or approximately 28.37%, to close at $36.77 per share on November 3, 2022.
If you wish to serve as lead plaintiff, you must move the Court no later than November 7, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired Tandem securities, and/or would like to discuss your legal rights and options please visit Tandem Diabetes Care, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Bernstein Liebhard LLP