Inogen Inc (NASDAQ:INGN) Investor Alert: Lawsuit Alleges Securities Laws Violations
A lawsuit was filed on behalf of investors in Inogen Inc (NASDAQ:INGN) shares over alleged securities laws violations. Deadline: May 12, 2015. NASDAQ:INGN investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 03/17/2015 --An investor, who purchased 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 (NASDAQ:INGN in connection with certain allegedly false and misleading statements made between November 12, 2014 and March 11, 2015.
Investors who purchased shares of Inogen Inc (NASDAQ:INGN) have certain options and for certain investors are short and strict deadlines running. Deadline: May 12, 2015. NASDAQ:INGN investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
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 annua 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.
On March 16, 2015, NASDAQ:INGN shares closed at $33.60 per share.
Those who purchased shares of Inogen Inc (NASDAQ:INGN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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View this press release online at: http://rwire.com/586697