BOSTON, March 07, 2019 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, informs investors that there has been a class action lawsuit filed against Inogen, Inc. (“Inogen” or the “Company”) (NASDAQ: INGN) and certain of its officers alleging violations of the federal securities laws. Shareholders are encouraged to contact Block & Leviton LLP to learn more.
The complaint alleges that throughout the Class Period, the 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 Inogen’s domestic business-to-business sales to home medical equipment providers was inflated, unsustainable and was eroding direct-to-consumer sales; and (iv) very little of Inogen’s business was actually coming from the more stable Medicare market.
When this news was revealed to the market the price of Inogen common shares plummeted.
If you have purchased or otherwise acquired Inogen securities between November 8, 2017 and February 26, 2019, and have questions about your legal rights, or possess information relevant to this investigation, you are encouraged to contact Attorney Dan DeMaria at (888) 868-2385, by email at dan@blockesq.com, or by visiting http://shareholder.law/cases/?case=inogen. Additionally, those interested in serving as lead Plaintiff must apply do so before the May 6, 2019, lead plaintiff deadline.
Block & Leviton LLP was recently ranked 4th among securities litigation firms by ISS for recoveries in 2017. The firm represents many of the nation's largest institutional investors and numerous individual investors in securities litigation throughout the country. Indeed, its lawyers have recovered billions of dollars for its clients.
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