September 9, 2020 - The court denied the defendants' motion to dismiss.

January 23, 2020 - A motion to dismiss the second consolidated amended complaint was filed.

January 9, 2020 - A second consolidated amended complaint was filed.

January 2, 2020 - The court granted the defendants' motion to dismiss. The plaintiffs were given leave to amend the complaint.

November 12, 2019 - A second motion to dismiss the complaint was filed.

November 5, 2019 - The court denied the defendants' motion to dismiss.

September 23, 2019 - A motion to dismiss the consolidated amended complaint was filed.

July 10, 2019 - A consolidated amended complaint was filed.

March 6, 2019 - An investor in shares of Inogen Inc (NASDAQ: INGN) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Inogen Inc in connection with certain allegedly false and misleading statements made between November 8, 2017 and February 26, 2019.

Goleta, CA based Inogen, Inc., a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for patients, physicians and other clinicians, and third-party payors in the United States and internationally.

On November 6, 2018, Inogen announced its third quarter 2018 financial results and, while the quarterly financial results were in line with expectations, defendants revealed that the growth in domestic business-to-business sales to HME providers had slowed and reduced Inogen’s guidance for fiscal 2018 adjusted EBITDA.

On February 8, 2019, a report was published by Carson Block of Muddy Waters Research and an additional report was published on February 12, 2019, by Andrew Left, managing editor of Citron Research.

On February 26, 2019, Inogen reported its fourth quarter and full year 2018 financial results. Inogen Inc reported that its annual Total Revenue rose from 249.43 million in 2017 to $358.11 million in 2018 and that its Net Income increased from $21 million in 2017 to $51.84 million in 2018. Shares of Inogen Inc (NASDAQ:INGN) grew from $29.53 per share on February 2016 to as high as $285.58 per share in September 2018. Shares of Inogen Inc (NASDAQ: INGN) declined to as low as $100.50 per share on February 27, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Inogen Inc (NASDAQ: INGN) common shares between November 8, 2017 and February 26, 2019, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between November 8, 2017 and February 26, 2019, the defendants failed to disclose that Inogen had overstated the true size of the total addressable market (“TAM”) for its portable oxygen concentrators and had misstated the basis for its calculation of the TAM, that Inogen had falsely attributed its sales growth to the strong sales acumen of its salesforce, when in reality it was due in large part to sales tactics designed to deceive its elderly customer base, that the growth in Inogen’s domestic business-to-business sales to home medical equipment (“HME”) providers was inflated, unsustainable and was eroding direct-to-consumer sales, and that very little of Inogen’s business was actually coming from the more stable Medicare market.