NEW YORK, Nov. 07, 2023 (GLOBE NEWSWIRE) -- Attention Tandem Diabetes Care, Inc. ("Tandem") (NASDAQ: TNDM) shareholders:
The Law Offices of Vincent Wong announce that a class action lawsuit has commenced on behalf of investors who purchased between August 3, 2022 and November 2, 2022.
If you suffered a loss on your investment in Tandem, contact us about potential recovery by using the link below. There is no cost or obligation to you.
https://www.wongesq.com/pslra-1/tandem-class-action-submission-form?prid=54819&wire=3
ABOUT THE ACTION: According to the complaint, 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. 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 revised guidance. The price of Tandem’s common stock declined dramatically. On November 2, 2022, Tandem closed at $51.34; however, on November 3, 2022 Tandem closed at $35.72 – a one-day decline of 30.4%.
DEADLINE: November 7, 2023
Aggrieved Tandem investors only have until November 7, 2023 to request that the Court appoint you as lead plaintiff. You are not required to act as a lead plaintiff in order to share in any recovery.
Vincent Wong, Esq. is an experienced attorney who has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Vincent Wong, Esq.
39 East Broadway
Suite 304
New York, NY 10002
Tel. 212.425.1140
E-Mail: vw@wongesq.com
