TNDM - Bragar Eagel & Squire P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Tandem Leslie's and PacWest and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, reminds investors that class actions have been commenced on behalf of stockholders of Tandem Diabetes Care, Inc. (NASDAQ:TNDM), Leslie's, Inc. (NASDAQ:LESL), and PacWest Bancorp (NASDAQ:PACW). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.
Tandem Diabetes Care, Inc. (NASDAQ:TNDM)
Class Period: August 3, 2022 - November 2, 2022
Lead Plaintiff Deadline: November 7, 2023
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.
According to the complaint, 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 ...