LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired 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.
If you are a shareholder who suffered a loss, click here to participate.
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.
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If you purchased DexCom securities during the Class Period, you may move the Court no later than October 21, 2024 to ask the Court to appoint you as lead plaintiff. 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 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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