LOS ANGELES, March 22, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) announces an investigation on behalf of Inogen, Inc. investors (“Inogen” or the “Company”) ( INGN) concerning the Company and its officers’ possible violations of federal securities laws.
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If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to [email protected], or visit our website at www.glancylaw.com.
On February 26, 2019, Inogen issued a press release announcing its fourth quarter and fiscal year 2018 financial and operating results and held a conference call with investors and analysts to discuss its business metrics and financial prospects. During the call, the Company's Chief Executive Officer backtracked on Inogen's prior total addressable market (“TAM”) estimate of 2.5 to 3 million patients, and blamed Inogen's poor "domestic business-to-business sales" on "order activity [that] slow[ed] from one national home care provider in the fourth quarter of 2018." Inogen also reported that its non-GAAP EBITDA for the quarter was $10.5 million, 9.5% lower than in fiscal 2017, and significantly reduced its previously provided 2019 net income guidance, citing in large part the decline in its own stock price.
On this news, shares of Inogen fell $33.77 per share, or more than 24%, to close at $106.28 per share on February 27, 2019, thereby injuring investors.
If you purchased Inogen securities, have information, or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067 at 310-201-9150, Toll-Free at 888-773-9224, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number, and the number of shares purchased.
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Contacts
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
[email protected]
