OAKLAND, Calif.--(BUSINESS WIRE)--Shares of Trupanion, Inc. (“Trupanion”) dropped over 35% on February 16, 2024, after the company revealed that it “expects to report two material weaknesses in internal controls.” Gibbs Law Group is investigating a potential Trupanion, Inc. Securities Class Action Lawsuit on behalf of shareholders who lost money in Trupanion, Inc. (NASDAQ: TRUP).
What Should Trupanion Inc. Investors Do?
If you invested in Trupanion, Inc., visit our website by clicking here, or call us toll-free at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether Trupanion, Inc. has violated federal securities laws by providing false or misleading statements to investors.
What is the Trupanion, Inc. Securities Lawsuit Investigation About?
On February 15, 2024, Trupanion released preliminary financial results for the fourth quarter and full year ended December 31, 2023 and identified two material weaknesses. According to Trupanion, “[t]he first material weakness relates to information technology controls, primarily in the areas of user access and program change-management over certain information technology systems” and the “[t]he second material weakness relates to internal controls over financial reporting, pertaining to the Company's Other Business segment.” The company added that due to the weaknesses, the financial results are preliminary and subject to the completion of an audit.
Following this news, the stock plunged over 35% trading on February 16th, 2024, causing serious harm to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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