According to the law firm press release, Insulet Corporation is primarily engaged in the development, manufacturing and sale of its proprietary OmniPod Insulin Management System (the “OmniPod System”), an insulin infusion system for people with insulin-dependent diabetes.

The Complaint alleges that Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the Company was experiencing slower demand for its products; (2) that the Company was facing issues with its sales and marketing efforts; (3) that, as a result, the Company experienced unevenness in its financial performance; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects lacked a reasonable basis. As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities after disclosing the decline in its revenues, Plaintiff and other Class members have suffered significant losses and damages.

The first identified case was voluntarily dismissed on July 2, 2015. A related action continues under Docket 15-CV-12345.

On August 1, 2016, Defendants filed a Motion to Dismiss the amended Complaint. On March 17, 2017, the Court issued an Order denying the Motion to Dismiss the amended Complaint.

The parties entered into a Stipulation of Settlement on February 8, 2018. On March 23, Plaintiff filed an amendment to the Stipulation. On June 25, 2021, the Court granted final approval of the Settlement and entered Final Judgment.