NEWTOWN, Pa., July 28, 2024 /PRNewswire/ — Edelson Lechtzin LLP is investigating potential violations of the federal securities laws involving Dexcom, Inc. (NASDAQ: DXCM) resulting from allegations of providing potentially misleading business information to the investing public.
If you have non-public information that could assist in the Dexcom Investigation or if you are a Dexcom investor who suffered a loss and would like to learn more, you can provide your information HERE.
You can also call attorneys Eric Lechtzin or Marc Edelson of Edelson Lechtzin LLP at 844-563-5550 or via e-mail at [email protected].
THE ALLEGED WRONGDOING
Dexcom is a manufacturer of sensors for continuous glucose monitors (“CGMs”). On July 25, 2024, after the market closed, Dexcom released its Q2 2024 financial results revealing revenue of $1.004 billion. Dexcom’s earnings release acknowledged that its performance had fallen short of expectations. Dexcom also slashed its full-year 2024 revenue guidance to a range of $4 billion to $4.05 billion, versus its previously announced guidance of $4.20 billion to $4.35 billion, citing “certain unique items impacting 2024 seasonality,” as negatively affecting revenue.
THE REVELATION: On this news, the price of Dexcom stock plummeted $43.85 per share, or 40%, on July 26, 2024, marking the largest single-day drop in the company’s history. In the wake of these disappointing results, CEO Kevin Sayer blamed a restructuring of the company’s sales team, fewer than expected new customers, and lower revenue per user. Skeptical market analysts questioned the company’s explanation and downgraded their ratings on DXCM stock.
ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to cases involving securities and investment fraud, our lawyers focus on class and collective litigation in cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft and unpaid overtime, consumer fraud, and dangerous and defective drugs and medical devices.
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing. Your ability to share in any potential future recovery does not depend upon serving as lead plaintiff.
SOURCE Edelson Lechtzin LLP
