According to the lawsuit, throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- DexCom had made material design changes to the G6 and G7 continuous glucose monitoring (“CGM”) systems that were unauthorized by the U.S. Food and Drug Administration (the “FDA”);
- the foregoing design changes rendered the G6 and G7 less reliable than their prior iterations, presenting a material health risk to users relying on those devices for accurate glucose readings;
- accordingly, defendants’ purported enhancements to the G7, as well as the device’s reliability, accuracy, and functionality, were overstated;
- defendants downplayed the true scope and severity of the issues and health risks posed by adulterated G7 devices;
- all the foregoing subjected DexCom to an increased risk of heightened regulatory scrutiny and enforcement action, as well as significant legal, reputational, and financial harm; and
- as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, 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 at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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