The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Inogen, Inc. (NASDAQGS: INGN) who purchased shares between November 8, 2017 and February 26, 2019. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Inogen lawsuit alleges 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.
Shareholders have until May 6, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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