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Inogen Inc (NASDAQ: INGN) Investor Securities Class Action Lawsuit 03/13/2015

  • If you purchased shares of Inogen Inc (NASDAQ: INGN), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Inogen Inc
Security
NASDAQ: INGN

Case Name
Inogen Shareholder Class Action Lawsuit 03/13/2015
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Central District of California

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

June 29, 2015 - The lead plaintiff filed a notice of voluntary dismissal without prejudice.
June 15, 2015 - Lead plaintiff and lead counsel were appointed.

May 12, 2015 - Lead plaintiff motions were filed.

March 16, 2015 - An investor in shares of Inogen Inc (NASDAQ: INGN) filed a lawsuit in the U.S. District Court for the Central District of California against Inogen Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 12, 2014 and March 11, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Inogen Inc (NASDAQ: INGN) common shares between November 12, 2014 and March 11, 2015, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the Company made false and/or misleading statements about the accuracy of Inogen’s financial statements and the effectiveness of Inogen’s disclosure controls and procedures. Furthermore, the plaintiff alleges that Inogen failed to disclose material weaknesses in its internal controls over financial reporting.

Inogen Inc reported that its annual Total Revenue rose from $48.58 million in 2012 to $75.44 million in 2013 and that its respective net Income increased from $0.56 million to $25.43 million. Shares of Inogen Inc (NASDAQ: INGN) grew from $13.81 per share in May 2008 to as high as $37.59 per share on March 11, 2015.

On March 11, 2015, Inogen Inc announced that during the first quarter of 2015 certain potential accounting matters were discovered by management, which prompted the Audit Committee, with the assistance of independent advisors, to commence an internal investigation. Shares of Inogen Inc (NASDAQ: INGN) declined to as low as $30.53 per share on March 12, 2015.