NEW YORK, May 26, 2015 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in Insulet Corp. securities (NASDAQ: PODD). Insulet investors can contact Fei-Lu Qian at 877.370.7703 or [email protected] for more information.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 6, 2015. A lead plaintiff is a representative party acting on behalf of class members in directing the litigation.
On January 15, 2015, J.P. Morgan issued an analyst report stating that the Company's disclosure during an industry conference "that US new patients starts were down 9% in 2014" was in contradiction to what the Company's former CFO Brian Roberts had represented at an earnings conference call on November 5, 2014. Specifically, Roberts had represented that the Company was still on track for growth of "15% to 20% range overall new patient starts year-over-year. And the trajectory still seems very solid here as we're a month and a few days into the fourth quarter."
On the disclosure of the decreased patient starts, Insulet shares plummeted $6.64 per share or 17% on January 15, 2015.
On April 30, 2015, Insulet announced first quarter earnings below analyst expectations as certain "Drug Delivery and International shipments planned for the first quarter [are] now expected to be realized during remainder of 2015."
On this news, Insulet shares plummeted an additional $2.88 per share or nearly 10%, to close at $26.97 per share on May 1, 2015.
The Complaint alleges that during the period of February 27, 2013 through April 30, 2015, Defendants made false and/or misleading statements and/or failed to disclose: (1) that the Company was experiencing slower demand for its products; and (2) that the Company was facing issues with its sales and marketing efforts.
Wolf Popper LLP has extensive experience representing shareholders in securities class actions and has successfully recovered billions of dollars for defrauded investors. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com
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