Cases
Inogen, Inc. (INGN)
Securities Class Action
Overview
Overview
- Date:
- 3/7/2019
- Company Name:
- Inogen, Inc.
- Stock Symbol:
- INGN
- Class Period:
- FROM 11/8/2017 TO 2/26/2019
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Central California
NEW YORK, March 7, 2019 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired Inogen, Inc. (NASDAQ: INGN) securities between November 8, 2017 and February 26, 2019 (the “Class Period”). Investors have until May 6, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The complaint alleges that throughout the class period defendants made false and misleading statements and/or failed to disclose adverse information regarding Inogen’s business metrics and financial prospects. Specifically, the complaint alleges that defendants failed to disclose that: (i) Inogen had overstated the true size of the total addressable market (TAM) for its portable oxygen concentrators and had misstated the basis for its calculation of the TAM; (ii) Inogen had falsely attributed its sales growth to the strong sales acumen of its salesforce, when in reality it was due in large part to sales tactics designed to deceive its elderly customer base; (iii) the growth in Inogens domestic business-to-business sales to home medical equipment (HME) providers was inflated, unsustainable and was eroding direct-to-consumer sales; and (iv) very little of Inogens business was actually coming from the more stable Medicare market.
If you purchased Inogen securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that throughout the class period defendants made false and misleading statements and/or failed to disclose adverse information regarding Inogen’s business metrics and financial prospects. Specifically, the complaint alleges that defendants failed to disclose that: (i) Inogen had overstated the true size of the total addressable market (TAM) for its portable oxygen concentrators and had misstated the basis for its calculation of the TAM; (ii) Inogen had falsely attributed its sales growth to the strong sales acumen of its salesforce, when in reality it was due in large part to sales tactics designed to deceive its elderly customer base; (iii) the growth in Inogens domestic business-to-business sales to home medical equipment (HME) providers was inflated, unsustainable and was eroding direct-to-consumer sales; and (iv) very little of Inogens business was actually coming from the more stable Medicare market.
If you purchased Inogen securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.