BENSALEM, Pa., March 22, 2019 (GLOBE NEWSWIRE) -- Law Offices of Howard G. Smith announces an investigation on behalf of Inogen, Inc. investors (“Inogen” or the “Company”) (NASDAQ: INGN) concerning the Company and its officers’ possible violations of federal securities laws.
On February 26, 2019, Inogen issued a press release announcing its fourth quarter and fiscal year 2018 financial and operating results and held a conference call with investors and analysts to discuss its business metrics and financial prospects. During the call, the Company's Chief Executive Officer backtracked on Inogen's prior total addressable market (“TAM”) estimate of 2.5 to 3 million patients, and blamed Inogen's poor "domestic business-to-business sales" on "order activity [that] slow[ed] from one national home care provider in the fourth quarter of 2018." Inogen also reported that its non-GAAP EBITDA for the quarter was $10.5 million, 9.5% lower than in fiscal 2017, and significantly reduced its previously provided 2019 net income guidance, citing in large part the decline in its own stock price.
On this news, shares of Inogen fell $33.77 per share, or more than 24%, to close at $106.28 per share on February 27, 2019, thereby injuring investors.
If you purchased Inogen securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com