SAN DIEGO, Aug. 21, 2024 (GLOBE NEWSWIRE) —
Robbins LLP informs investors that a shareholder filed a class action on behalf of all persons and entities that purchased or otherwise acquired DexCom Inc. (NASDAQ: DXCM) securities between January 8, 2024 and July 25, 2024. DexCom is an international company that develops, manufactures, and distributes continuous glucose monitoring systems for diabetes management.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that DexCom Inc. (DXCM) Misled Investors Regarding its Business Propsect
According to the complaint, during the class period, defendants provided investors with material information concerning DexCom’s expected revenue for the fiscal year 2024. Defendants’ statements included, among other things, confidence in DexCom’s ability to capitalize on its growth potential to reach the projected record number of new patients and simultaneously outpace the prior fiscal year’s gross margins, while scaling customer conversion to its new G7 platform. Defendants provided these overwhelmingly positive statements to investors while, at the same time, concealing that it was not truly equipped to execute on the Company’s perceived growth potential.
Plaintiff alleges that on July 25, 2024, DexCom announced its financial results for the second quarter of fiscal 2024 and reduced its revenue guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on their execution of “several key strategic initiatives” which “did not meet [their] high standards.” On this news, the price of DexCom’s common stock declined from a closing price of $107.85 per share on July 25, 2024, to $64.00 per share on July 26, 2024, a decline of about 40.66% in just a single day.
What Now: You may be eligible to participate in the class action against DexCom Inc. Shareholders who want to serve as lead plaintiff for the class must submit their application to the court by October 21, 2024. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: Some law firms issuing releases about this matter do not actually litigate securities class actions; Robbins LLP does. A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. Since our inception, we have obtained over $1 billion for shareholders.
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