Securities Class Action Filed Against Inogen, Inc.
Violations of federal securities laws as a result of a series of materially false statements. According to the Complaint, the Company made false and/or misleading statements about the accuracy of its financial statements and the effectiveness of its disclosure controls and procedures, in addition to failing to disclose material weaknesses in its internal controls over financial reporting. The Complaint states that on March 11, 2015, Inogen announced that management had discovered potential accounting matters during the first quarter of 2015 which prompted the Company’s Audit Committee, with the assistance of independent advisors, to investigate whether any of the Company’s accounting policies were violated as a result of these potential accounting matters. On this news, shares of Inogen fell $4.24 per share, or by more than 11%, to close at $33.10 per share on March 12, 2015, damaging investors. Filed in C.D. Cal.
Lead Plaintiff Deadline: The deadline to file for lead plaintiff in this action is 5/12/2015.
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