Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against Tandem Diabetes Care, Inc. (“UiPath” or “the Company”) (NASDAQ: TNDM) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired Tandem securities from August 3, 2022 through November 2, 2022 (the “Class Period”). Investors who acquired Tandem securities during this defined timeframe are strongly encouraged to participate in this case by contacting firstname.lastname@example.org. The deadline to file a motion for appointment of lead plaintiff is November 7, 2023.
The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased Tandem securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.
ALLEGATIONS AGAINST TANDEM DIABETES CARE, INC.
The complaint alleges that defendants provided investors with material information concerning Tandem’s projected revenue and sales for the year ending 2022. On August 2, 2022, Tandem estimated annual sales to be in the range of $835 million to $845 million, which represents an annual growth of 19 percent to 20 percent compared to 2021. Defendants provided these statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts. The truth emerged on November 2, 2022, when Tandem, in an investment call and Form 8-K filing, revised its 2022 forecast downward to $800 to $805 million. Reasons stated for the scale back included increased competition in the diabetes care sector, complications due to the COVID pandemic, and macroeconomic factors such as inflation. Investors and analysts reacted immediately to Tandem’s revised guidance. The price of Tandems common stock declined dramatically. On November 2, 2022, Tandem closed at $51.34; however, on November 3, 2022, Tandem closed at $35.72, a one-day decline of 30.4%.
ABOUT TANDEM DIABETES CARE, INC.
- Tandem Diabetes Care Inc. is a company that specializes in the development and manufacture of medical devices for individuals with diabetes. Their primary focus is on insulin delivery systems and related products. Here are some of the key products and areas of expertise associated with Tandem Diabetes Care:
- Insulin Pumps: Tandem Diabetes Care manufactures insulin pumps, which are medical devices used by people with diabetes to deliver a continuous supply of insulin. These pumps are designed to help individuals with diabetes manage their blood sugar levels more effectively.
- Insulin Pump Technology: Tandem Diabetes Care is known for its innovative insulin pump technology, including touchscreen interfaces and integration with continuous glucose monitoring (CGM) systems. These features can provide users with better control over their insulin delivery.
- Integrated Systems: Tandem Diabetes Care has worked on developing integrated diabetes management systems that combine insulin pumps and CGM devices. Integration allows for more accurate and automated insulin delivery based on real-time glucose data.
- Software and Data Management: The company also offers software and data management solutions to help individuals with diabetes and healthcare providers track and analyze blood sugar levels, insulin dosing, and other important health metrics.
- Customer Support and Education: Tandem Diabetes Care provides customer support and educational resources to help people with diabetes use their products effectively and manage their condition.
JOIN THIS CASE
It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in Tandem during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is November 7, 2023. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.
Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.
Investors who believe they may qualify as potential class members in the class action lawsuit against Tandem are strongly encouraged to reach out directly to the firm for further information and assistance. The knowledgeable legal professionals at Twersky Law Group stand ready to provide guidance and support to investors seeking to protect their rights and pursue the recovery they deserve.