Inogen, Inc. (NASDAQ: INGN)
Hagens Berman Sobol Shapiro LLP alerts investors in Inogen, Inc. (NASDAQ: INGN) to the May 6, 2019 Lead Plaintiff deadline in the securities class action pending in the U.S. District Court for the Central District of California.
If you purchased or otherwise acquired shares of INGN between November 8, 2017 and February 26, 2019 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information, contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing INGN@hbsslaw.com.
According to the complaint, during the class period Defendants (1) misled investors about the true size of the total addressable market (“TAM”) for Inogen’s portable oxygen concentrators, (2) misstated the basis for calculating the TAM, and (3) falsely attributed the Company’s sales growth to the sales acumen of its salesforce when in reality growth was due in large part to sales tactics designed to deceive elderly customers.
After the market closed on February 26, 2019, Defendants announced disappointing fourth quarter and fiscal year 2018 financial results and significantly reduced their previously provided fiscal 2019 net income guidance.
This news drove the price of Inogen shares down $33.77, or down over 24%, to close at $106.28 on February 27, 2019.
“We’re focused on investors’ losses, the extent to which Defendants may have misled investors about the TAM, sources of reported sales growth, and other matters,” said Hagens Berman partner Reed Kathrein.
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