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NASDAQ:INGN Investor Alert: Lawsuit Alleges Securities Laws Violations by Inogen Inc

Via: ReleaseWire

Updated 12:15 PM CDT, Wed, March 20,2019

A lawsuit was filed for investors in Inogen Inc (NASDAQ: INGN) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 03/20/2019 -- An investor, who purchased NASDAQ: INGN shares, filed a lawsuit against Inogen Inc over alleged violations of Federal Securities Laws.

Investors who purchased shares of Inogen Inc (NASDAQ: INGN) have certain options and for certain investors are short and strict deadlines running. Deadline: May 6, 2019. NASDAQ: INGN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Goleta, CA based Inogen, Inc., a medical technology company, primarily develops, manufactures, and markets portable oxygen concentrators for patients, physicians and other clinicians, and third-party payors in the United States and internationally.

On November 6, 2018, Inogen announced its third quarter 2018 financial results and, while the quarterly financial results were in line with expectations, defendants revealed that the growth in domestic business-to-business sales to HME providers had slowed and reduced Inogen's guidance for fiscal 2018 adjusted EBITDA.

On February 8, 2019, a report was published by Carson Block of Muddy Waters Research and an additional report was published on February 12, 2019, by Andrew Left, managing editor of Citron Research.

The plaintiff claims that between November 8, 2017 and February 26, 2019, the defendants failed to disclose that 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, that Inogen had falsely attributed its sales growth to the strong sales acumen of its salesforce, when in reality it was due in large part to sales tactics designed to deceive its elderly customer base, that 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 that very little of Inogen's business was actually coming from the more stable Medicare market.

Those who purchased shares of Inogen Inc (NASDAQ: INGN) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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Media Relations Contact
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