LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP, representing investors of Insulet Corp. (“Insulet” or the “Company”) (NASDAQ: PODD), has filed a class action lawsuit in the United States District Court for the District of Massachusetts on behalf of a class (the “Class”) comprising purchasers of Insulet securities between February 27, 2013 and April 30, 2015, inclusive (the “Class Period”).
Please contact Casey Sadler, Esquire or Lesley Portnoy, Esquire at (310) 201-9150, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
Insulet is primarily engaged in the development, manufacturing and sale of its proprietary OmniPod Insulin Management System (the “OmniPod System”), an insulin infusion system for people with insulin-dependent diabetes.
The complaint alleges that Defendants made 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: (1) that the Company was experiencing slower demand for its products; (2) that the Company was facing issues with its sales and marketing efforts; (3) that, as a result, the Company experienced unevenness in its financial performance; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects lacked a reasonable basis. As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities after disclosing the decline in its revenues, Plaintiff and other Class members have suffered significant losses and damages.
If you are a member of the Class described above, you may move the Court, no later than 60 days from the date of this Notice, to serve as lead plaintiff, if you meet certain legal requirements. 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 inquire via email, please include your mailing address, telephone number, and number of shares purchased.
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