According to the Complaint, Tandem Diabetes Care, Inc. is a global medical technology company that develops, manufactures, and markets a variety of consumer technologies and software for at home diabetes care.

The Complaint alleges that during the Class Period, Defendants disseminated materially false and misleading statements and/or concealed material adverse facts about the Company, causing Plaintiff and other shareholders to purchase Tandem’s securities at artificially inflated prices. On November 2, in an investment call and Form 8-K filing, the Company revised its 2022 forecast downward to the range of $800 to $805 million. Reasons stated for the scale back included increased competition in the diabetes care sector, complications due to the COVID pandemic, and macroeconomic factors such as inflation.

On December 5, 2023, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on February 1, 2024. Defendants filed a Motion to Dismiss the amended Complaint on March 11.

On April 30, 2024, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint.