Edelson Lechtzin LLP is investigating securities fraud claims on behalf of investors of Dexcom Inc. common stock (NASDAQ: DXCM) between January 8, 2024, and July 25, 2024
NEWTOWN, PA / ACCESSWIRE / August 28, 2024 / Edelson Lechtzin LLP, a leading class action law firm, is investigating securities fraud claims on behalf of investors of Dexcom Inc. common stock (NASDAQ:DXCM) between January 8, 2024, and July 25, 2024, inclusive (the "Class Period"). Investors who purchased DexCom stock may move the U.S. District Court for the Southern District of California to appoint them as lead plaintiff, no later than October 21, 2024. The case is Alonzo v. Dexcom Inc., et al., Docket No. 3:2024-cv-01485-RSH-VET (S.D. Cal.).
You may contact Edelson Lechtzin LLP to discuss your investment losses at 844-696-7492, or by e-mail at elechtzin@edelson-law.com. You can also submit your trading information online HERE.
Background on DexCom, Inc.
Headquartered in San Diego, California, Dexcom specializes in developing, producing, distributing, and manufacturing continuous glucose monitoring systems for diabetes management.
The Securities Fraud Claims
The complaint alleges that Defendants made materially false and misleading statements throughout the Class Period. Defendants provided investors with overwhelmingly positive statements while at the same time disseminating false and misleading statements or concealing important facts about the true state of Dexcom's salesforce. Specifically, they failed to disclose that the sales force was not fully prepared to achieve the Company's anticipated revenue growth.
On July 25, 2024, Dexcom released its financial results for the second quarter of fiscal year 2024. The Company also adjusted its revenue guidance for the full fiscal year 2024. Dexcom stated that the results and revised guidance were attributed to the Company's implementation of "several key strategic initiatives" that did not meet their high standards. On this news, Dexcom's common stock dropped $64.00 per share, or 40.66%, in a single day, on July 26, 2024.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
Web: www.edelson-law.com
Edelson Lechtzin LLP is a leading class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. Your ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
SOURCE: Edelson Lechtzin LLP
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