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TNDM.US

Tandem Diabetes Care (TNDM) Financial Misrepresentation Case

S.D. California
Court
3:23-cv-01657
Case number
03 Aug 2022
Class period Start
02 Nov 2022
Class period End
  • Tandem cut its 2022 forecast contrary to its recent projections.
  • $TNDM fell about 30% and lost over $940M of market cap.
  • Shareholders suspect Tandem of misleading that led consequently to their investment losses.
On November 2, 2022, Tandem Diabetes Care (TNDM) cut its 2022 sales forecast to $800 to $805 million. Reasons stated for the scaleback included increased competition in the diabetes care sector, complications due to the COVID-19 pandemic, and macroeconomic factors such as inflation.

On this news, $TNDM declined nearly 30% and lost over $940 million of its market capitalization, seriously damaging investors.

Three months earlier, 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% to 20% compared to 2021.”

Considering all representations, Investors have reasons to suspect Tandem of misguiding them about true business prospects.
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
03 November 2022
Filing date
08 September 2023
Lead Plaintiff Deadline
08 November 2023
Judge
Hon. Marilyn L. Huff
Collecting participants…
Created by Stan Vick, Scout

Tandem Diabetes Care Inc

Tandem Diabetes Care, Inc., a medical device company, designs, develops, and commercializes various products for people with insulin-dependent diabetes in the United States and internationally. The...

    Ticker
    TNDM.US
    ISIN
    US8753722037
    CIK
    1438133
    Sector
    Healthcare
    Industry
    Medical Devices
    Country
    USA
    Address
    12400 High Bluff Drive, San Diego, CA, United States, 92130