NEW YORK, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP announces that a class action lawsuit has been filed against DexCom, Inc. (“DexCom” or the “Company”) (NASDAQ: DXCM) securities between January 8, 2024 and July 25, 2024 (the “Class Period”).
If you are an investor in DexCom and have suffered losses, you may CLICK HERE to contact us. You may also contact Kaplan Fox by emailing pmayer@kaplanfox.com or by calling (646) 315-9003.
DEADLINE REMINDER: If you are a member of the proposed Class, you may move the court no later than October 21, 2024 to serve as a lead plaintiff for the purported class. If you have losses we encourage you to contact us to learn more about the lead plaintiff process.
On July 25, 2024, after the market closed, DexCom issued a press release reporting its second quarter 2024 financial results. In the press release, the Company lowered its full year 2024 sales guidance to between $4 billion and $4.05 billion compared to its prior guidance range of between $4.20 billion and $4.35 billion, or about a $300 million reduction to the high end of the Company’s prior guidance. The press release also quotes DexCom’s Chairman, President and CEO as stating, “our execution did not meet our high standards.” During the conference call that followed, the Company disclosed, among other things, that it had suffered a “new patient shortfall” of 70,000 patients in connection with a “sales force disruption,” “loss of share in [the Durable Medical Equipment channel],” and greater rebate eligibility for the G7 than expected.
On this news, the price of DexCom stock fell $43.85 per share, over 40%, to close at $64 per share on July 26, 2024.
The complaint alleges, among other things, that throughout the Class Period, the Defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of DexCom's salesforce; notably, that it was not truly equipped to execute on the Company's perceived growth potential. Such statements absent these material facts caused Plaintiff and other shareholders to purchase DexCom's securities at artificially inflated prices.
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If you have any questions about this Notice, your rights, or your interests, please contact:
CONTACT:
Pamela A. Mayer
KAPLAN FOX & KILSHEIMER LLP
800 Third Avenue, 38th Floor
New York, New York 10022
(646) 315-9003
pmayer@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
lking@kaplanfox.com
