ALERT: Morgan & Morgan Announces That Class Action Lawsuits Have Been Filed Against Insulet Corporation -- PODD

Loading...
Loading...

NEW YORK, June 23, 2015 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that class action lawsuits have been filed in the United States District Court for the District of Massachusetts, against Insulet Corporation PODD ("Insulet" or the "Company"), on behalf of investors who purchased or otherwise acquired securities between February 27, 2013 and April 30, 2015, inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").

If you purchased Insulet during the Class Period, you may, no later than July 6, 2015, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you want more information about the Insulet Shareholder Class Action, contact Morgan & Morgan at 1(800) 732-5200 or email info@morgansecuritieslaw.com

Insulet is a medical device corporation that manufactures the OmniPod Insulin Management System, an insulin system for patients with insulin-dependent diabetes.

The complaints allege that during the class period Insulet made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing weaker demand for its products; (2) the Company was having problems related to its sales and marketing efforts; (3) as a result, the Company experienced unevenness in its financial performance; and (4) as a result of the foregoing, Insulets' positive statements about the Company's business, prospects, and operations lacked a reasonable basis.

On April 30, 2015, after the market closed, the Company announced first quarter 2015 earnings below analyst expectations. According to the Company, certain Drug Delivery and International shipments planned for the first quarter of 2015 were expected to be realized during the remainder of 2015. Following this news, shares of Insulet declined $2.88 per share, nearly 10%, to close at $26.97 per share on May 1, 2015.

About Morgan & Morgan

Morgan & Morgan is one of the nation's largest 200 law firms. In addition to securities fraud, the firm also practices in the areas of antitrust, personal injury, consumer protection, overtime, and product liability. All of the Firm's legal endeavors are rooted in its core mission: provide investor and consumer protection and always fight "for the people."

Attorney advertising. Prior results do not guarantee a similar outcome.

CONTACT: Morgan & Morgan Peter Safirstein, Esq. 28 West 44th Street Suite 2001 New York, NY 10036 1-800-732-5200 info@morgansecuritieslaw.com
Loading...
Loading...
Posted In: Press Releases
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...