05.07.15
Glancy Prongay & Murray LLP, representing investors of Insulet Corp., has filed a class action lawsuit in the United States District Court for the District of Massachusetts on behalf of a class comprising purchasers of Insulet securities between February 27, 2013 and April 30, 2015.
Insulet makes the proprietary Omnipod insulin management system, an insulin infusion system for people with insulin-dependent diabetes.
The complaint alleges that Insulet made false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, the company is accused of not disclosing that it was experiencing slower demand for its products; that it was facing issues with its sales and marketing efforts; that as a result the company experienced unevenness in its financial performance; and that as a result, it’s positive statements about Insulet’s business, operations, and prospects lacked a reasonable basis. The class claims that it suffered significant losses and damages following a steep decline in the revenues.
Insulet makes the proprietary Omnipod insulin management system, an insulin infusion system for people with insulin-dependent diabetes.
The complaint alleges that Insulet made false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, the company is accused of not disclosing that it was experiencing slower demand for its products; that it was facing issues with its sales and marketing efforts; that as a result the company experienced unevenness in its financial performance; and that as a result, it’s positive statements about Insulet’s business, operations, and prospects lacked a reasonable basis. The class claims that it suffered significant losses and damages following a steep decline in the revenues.