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 DexCom, Inc. (“DexCom” or the “Company”) (NASDAQ: DXCM) securities between January 8, 2024 to July 25, 2024, inclusive (the “Class Period”). DexCom investors have until October 21, 2024 to file a lead plaintiff motion.
Investors suffering losses on their DexCom 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 howardsmith@howardsmithlaw.com.
On July 25, 2024, after the market closed, DexCom announced its second quarter 2024 financial results, including $1.004 billion revenue, in a press release stating the Company’s “execution did not meet [its] high standards.” The Company also lowered its full year 2024 guidance, expecting between $4 billion and $4.05 billion revenue, due to “certain unique items impacting 2024 seasonality.”
On this news, the Company’s stock price fell $43.85, or 40.7%, to close at $64.00 per share on July 26, 2024, 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 failed to disclose to investors that: (1) the Company was not truly equipped to execute on its perceived growth potential as it relied far too heavily on its ability to attract new customers while keeping existing distribution channels afloat; and (2) 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 DexCom 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 (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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