According to the Complaint, Inogen, Inc. is a medical technology company.

The Complaint alleges that during the Class Period, Defendants made false and misleading statements and/or failed to disclose adverse information regarding Inogen’s business metrics and financial prospects. Specifically, the Complaint alleges Defendants failed to disclose that: (i) 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; (ii) Inogen had falsely attributed its sales growth to the strong sales acumen of its sales force, when in reality it was due in large part to sales tactics designed to deceive its elderly customer base; (iii) 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 (iv) very little of Inogen’s business was actually coming from the more stable Medicare market.

On May 20, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated amended Complaint on July 10. Defendants filed a Motion to Dismiss the consolidated amended Complaint on September 23. On November 5, the Court issued an Order denying Defendants' Motion to Dismiss. Defendants filed another Motion to Dismiss the case on November 12. On January 2, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On January 9, Plaintiffs filed a consolidated second amended Complaint. Defendants filed a Motion to Dismiss the consolidated second amended Complaint on January 23. On September 9, the Court issued an Order denying Defendants' Motion to Dismiss. Defendants filed another Motion to Dismiss the consolidated second amended Complaint on October 28. On August 13, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On September 23, Lead Plaintiffs informed the Court that they did not intend to file a third amended Complaint. The parties agreed to bear their own costs to date.