Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In DexCom To Contact Him Directly To Discuss Their Options
If you suffered losses exceeding $100,000 in DexCom between January 8, 2024 to July 25, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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NEW YORK, Aug. 21, 2024 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against DexCom, Inc. (“DexCom” or the “Company”) (NASDAQ:DXCM) and reminds investors of the October 21, 2024 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint filed in this class action alleges that throughout the Class Period, Defendants made materially 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 to investors the true state of DexCom’s salesforce; notably, that it was not truly equipped to execute on the Company’s perceived growth potential. Such statements absent these material facts caused Plaintiff and other shareholders to purchase DexCom’s securities at artificially inflated prices.
On July 25, 2024, Dexcom announced its financial results for the second quarter of fiscal 2024 and reduced its revenue guidance for the full fiscal year 2024. The Company attributed its results and lowered guidance on their execution of “several key strategic initiatives” which “did not meet [their] high standards.”
Investors and analysts reacted immediately to DexCom’s revelation. The price of DexCom’s common stock declined dramatically. From a closing market price of $107.85 per share on July 25, 2024, DexCom’s stock price fell to $64.00 per share on July 26, 2024, a decline of about 40.66% in the span of just a single day.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information Dexcom’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Dexcom class action, go to www.faruqilaw.com/DXCM or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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