Jun 19, 2015, 07:37 ET
SAN DIEGO and BILLERICA, Mass., June 19, 2015 /PRNewswire/ -- According to a federal securities fraud class action complaint filed in the U.S. District Court for the District of Massachusetts, officers and directors of Insulet Corporation (NASDAQGS: PODD) violated the Securities Exchange Act of 1934 between February 27, 2013 and April 30, 2015, by making materially false and misleading statements about their business prospects.
View this information on the law firm's Shareholder Rights Blog:
Insulet Misrepresents Its Business Practices
According to the complaint, defendants misrepresented the success of the rollout of Insulet's new insulin infusion system known as OmniPod Eros, manipulated the way the company reported the number of new patients using OmniPod Eros, and inflated international sales to conceal the company's declining growth. When the truth was revealed on April 30, 2015, shares of Insulet declined nearly 10% to close at $26.97 on May 1, 2015.
Insulet Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
Darnell R. Donahue
Robbins Arroyo LLP
600 B Street, Suite 1900
San Diego, CA 92101
(619) 525-3990 or Toll Free (800) 350-6003
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SOURCE Robbins Arroyo LLP
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