On or around 06/29/2015 (Notice of voluntarily dismissal)
Filing Date: March 13, 2015
According to the law firm press release, the lawsuit alleges 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, Inogen failed to disclose material weaknesses in its internal controls over financial reporting.
On March 11, 2015, the Company announced that management discovered potential accounting matters during the first quarter of 2015. This discovery prompted the Audit Committee, with the assistance of independent advisors, to investigate whether any of the Company’s accounting policies were violated stemming from these potential accounting matters. On this news, shares of Inogen fell $4.24 per share or over 11% to close at $33.10 per share on March 12, 2015, damaging investors.
This case was voluntarily dismissed on June 29, 2015.
Company & Securities Information
Defendant: Inogen, Inc.
Industry: Medical Equipment & Supplies
Headquarters: United States
Ticker Symbol: INGN
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.