The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased Inogen, Inc. (NASDAQGS: INGN) securities between November 8, 2017 and February 26, 2019.
According to the Inogen lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or 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.
If you suffered a loss in Inogen you have until May 6, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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