TANDEM DIABETES CARE, INC. SHAREHOLDERS HAVE AN OPPORTUNITY TO RECOVER THEIR INVESTMENT LOSSES
Tandem Diabetes Care, Inc.
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired Tandem Diabetes Care, Inc. (“Tandem” or the “Company”) (NASDAQ: TNDM) securities between August 3, 2022 and November 2, 2022, inclusive. The lawsuit seeks to recover Tandem shareholders’ investment losses.
If you purchased securities in Tandem between August 3, 2022 and November 2, 2022, inclusive, and would like to discuss your legal rights and/or options, please click “Join Class Action” above.
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.
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.
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Contact Information:
Peter Allocco
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
