Gainey McKenna & Egleston Announces a Class Action Lawsuit Has Been Filed Against Insulet Corp. (PODD)


NEW YORK, May 6, 2015 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the District of Massachusetts on behalf of all persons or entities that purchased the securities of Insulet Corp. (“Insulet” or the “Company”) (Nasdaq:PODD) between February 27, 2013 and April 30, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

Insulet is primarily involved in the development, manufacturing and sale of its insulin infusion system for people with insulin-dependent diabetes, called OmniPod Insulin Management System (the “OmniPod System”).  The Complaint alleges that the Defendants made false and/or misleading statements about the Company’s business operations and also failed to disclose material adverse facts affecting the Company.

The Complaint also alleges that the Defendants failed to disclose: (1) that the Company was experiencing weaker demand for its products; (2) that the Company was having problems with its sales and marketing efforts; (3) that, as a result, the Company’s financial performance was uneven; and (4) that, as a result of these issues, Defendants’ positive statements about the Company’s business, operations, and prospects did not have a reasonable basis.   The Complaint further alleges that as a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities after disclosing the decline in its revenues, Plaintiff and other Class members have suffered significant losses and damages.

If you wish to serve as lead plaintiff, you must move the Court no later than July 6, 2015.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

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