According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- despite claiming strong visibility into customer demand and attributing headwinds to temporary COVID-related product destocking, West was in fact experiencing significant and ongoing destocking across its high-margin High-Value Products (“HVP”) portfolio;
- West’s SmartDose device, which was purportedly positioned as a high-margin growth product, was highly dilutive to West’s profit margins due to operational inefficiencies;
- these margin pressures created the risk of costly restructuring activities, including West’s exit from continuous glucose monitoring (“CGM”) contracts with long-standing customers; and
- as a result of the foregoing, defendants’ positive statements about West’s business, operations, and prospects were materially false and/or misleading or lacked a reasonable basis.
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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