New York, New York--(Newsfile Corp. - February 26, 2024) - Pomerantz LLP is investigating claims on behalf of investors of Trupanion Inc. ("Trupanion" or the "Company") (NASDAQ: TRUP). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.
The investigation concerns whether Trupanion and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On February 15, 2024, in a press release announcing its fourth quarter and full year 2023 financial results, Trupanion disclosed that "[w]hile the Company is still completing its assessment of the effectiveness of its internal controls over financial reporting in its upcoming fiscal 2023 Annual Report on Form 10-K, the Company expects to report two material weaknesses in internal controls." Trupanion stated that "[t]he first material weakness relates to information technology controls, primarily in the areas of user access and program change-management over certain information technology systems", while "[t]he second material weakness relates to internal controls over financial reporting, pertaining to the Company's Other Business segment." Stating that its "2023 audit remains open, and the Company is working with its auditors to complete the process[,]" Trupanion advised that its "financial results for the fourth quarter and full year 2023 are preliminary and subject to completion of the audit."
On this news, Trupanion's stock price fell $12.40 per share, or 35.15%, to close at $22.88 per share on February 16, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/199339
