DexCom (DXCM) Accused of Misleading Investors About Sales Force Changes and Financial Outlook- ...
SAN FRANCISCO, Sept. 30, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed against DexCom, Inc. (NASDAQ: DXCM), alleging that the medical device company made misleading statements about its financial performance and growth prospects.
Hagens Berman urges DexCom investors who suffered substantial losses to submit your losses now.
Class Period: Jan. 8, 2024 – July 25, 2024
Lead Plaintiff Deadline: Oct. 21, 2024
Visit: www.hbsslaw.com/investor-fraud/DXCM
Contact the Firm Now: DXCM@hbsslaw.com
844-916-0895
DexCom, Inc. (DXCM) Securities Class Action:
The lawsuit, captioned Alonzo v. DexCom, Inc., seeks to represent investors who purchased or acquired DexCom securities between January 8, 2024, and July 25, 2024. The plaintiffs allege that DexCom and certain of its executives violated federal securities laws by providing false and misleading information to investors.
According to the complaint, DexCom's optimistic projections about its growth, earnings potential, and margins were not supported by the company's underlying performance. The lawsuit alleges that DexCom overstated its ability to attract new customers and maintain its existing distribution channels.
On July 25, 2024, the truth was revealed when DexCom announced dismal financial results for the second quarter of fiscal year 2024 and lowered its revenue guidance for the full year. DexCom attributed the shortfall to "several key strategic initiatives" that did not meet its expectations
On this news, the company's stock price plummeted by nearly 41%.
In light of these allegations, prominent shareholder rights firm Hagens Berman has initiated an investigation into potential violations of U.S. securities laws by DexCom.
According to Reed Kathrein, the Hagens Berman partner leading the investigation, “Our investigation is focused on uncovering whether DexCom misled the public about the risks associated with its strategic decisions.”
If you invested in DexCom and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »
If you’d like more information and answers to frequently asked questions about the DexCom case and our investigation, read more»
Whistleblowers: Persons with non-public information regarding DexCom should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email DXCM@hbsslaw.com.
About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
