NEWTOWN, Pa., July 31, 2024 (GLOBE NEWSWIRE) — Edelson Lechtzin LLP, a leading class action law firm, is investigating potential securities fraud and breach of fiduciary duty claims on behalf of investors in Dexcom, Inc. (NASDAQ: DXCM) common stock.
Dexcom investors with substantial losses and witnesses with non-public information about the company are urged to contact Edelson Lechtzin LLP at 844-696-7492, by e-mail at elechtzin@edelson-law.com, or online HERE.
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, which fell short of expectations. Dexcom also slashed its full-year 2024 revenue guidance to $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…”
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.
CONTACT INFORMATION:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: medelson@edelson-law.com
Email: elechtzin@edelson-law.com
Web: www.edelson-law.com
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.
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