NEW YORK, June 27, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire is investigating certain officers and directors of Inogen, Inc., Health Insurance Innovations, Inc., Amyris, Inc., and Nutanix, Inc. More information about each potential case can be found at the link provided.
Inogen, Inc. (NASDAQ: INGN)
Bragar Eagel and Squire is investigating certain officers and directors of Inogen following a class action complaint that was filed against Inogen on March 6, 2019.
The complaint alleges that during 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, 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 ("HME") 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. As a result of this information being withheld from the market, the price of Inogen common stock was artificially inflated to more than $282 per share during the Class Period.
If you are a long-term stockholder of Inogen, continuously holding shares, have information, or would like to learn more about the Inogen investigation, go to: https://bespc.com/INGN
Health Insurance Innovations, Inc. (NASDAQ: HIIQ)
Bragar Eagel and Squire is investigating certain officers and directors of Health Insurance Innovations following a class action complaint that was filed against Health Insurance Innovations on February 18, 2019.
The complaint alleges that on November 27, 2018, Aurelius Value published a report stating, among other things, that "[p]reviously sealed documents gathered by the FTC directly undermine management's claims and prove that a large boiler room operation recently shuttered by the government for a massive alleged fraud was responsible for roughly half of HIIQ's sales. Evidence also suggests that HIIQ policies have been contaminated by insurance fraud and reveal that other HIIQ brokers prey on consumers with falsehoods." On this news, shares of HIIQ fell $1.93 per share, or over 5.8%, on November 27, 2018, thereby damaging investors. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that a substantial portion of the Company's revenues were derived from third parties; (2) that these third parties used deceptive tactics to sell the Company's policies, including overstating the policy's coverage and/or selling under the licenses of employees who had no involvement in the underlying sales; (3) that regulatory scrutiny of these third parties would materially impact the Company's operations; and (4) that, as a result of the foregoing, Defendants positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are a long-term stockholder of Health Insurance Innovations, continuously holding shares, have information, or would like to learn more about the Health Insurance Innovations investigation go to: https://bespc.com/HIIQ-3
Amyris, Inc. (NASDAQ: AMRS)
Bragar Eagel and Squire is investigating certain officers and directors of Amyris, Inc. following a class action complaint that was filed against Amyris on April 3, 2019.
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company lacked sufficient resources to accurately account for certain transactions; (2) that, as a result, there was a material weakness in the Company's internal controls over financial reporting; (3) that, as a result, the Company would be unable to timely file its annual report; and (4) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you are a long-term stockholder of Amyris, continuously holding shares, have information, or would like to learn more about the Amyris investigation go to: https://bespc.com/amyris.
Nutanix, Inc. (NASDAQ: NTNX)
Bragar Eagel and Squire is investigating certain officers and directors of Nutanix, Inc. following a class action complaint that was filed against Nutanix on March 3, 2019.
The complaint alleges that Beginning on March 2, 2018, Nutanix and its senior executives made repeated statements that Nutanix was investing heavily in growth while maintaining high profit margins. On February 28, 2019, Nutanix announced its second quarter fiscal 2019 results and reported third quarter guidance that was below analysts' expectations. Management acknowledged that "inadequate marketing spend for pipeline generation and slower than expected sales hiring" were the reasons for the weak guidance. As a result of this news, Nutanix's stock price fell on March 1, 2019, by $16.39 per share or 33% on very heavy volume. Nutanix senior officers, including its Chief Revenue Officer, took advantage of these false statements by selling Nutanix common stock at inflated prices.
If you are a long-term stockholder of Nutanix, continuously holding shares, have information, or would like to learn more about the Nutanix investigation go to: https://bespc.com/nutanix
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com