SOURCE: Bernstein Litowitz Berger & Grossmann LLP

June 16, 2015 16:07 ET

Bernstein Litowitz Berger & Grossmann LLP Announces Securities Class Action Suit Filed Against Insulet Corporation and Certain of Its Senior Executives

NEW YORK, NY--(Marketwired - Jun 16, 2015) - Bernstein Litowitz Berger & Grossmann LLP ("BLB&G") today announced that it has filed a securities class action lawsuit on behalf of Arkansas Teacher Retirement System ("Arkansas Teacher") against Insulet Corporation ("Insulet" or the "Company") (NASDAQ: PODD) and certain of its senior executives. The action, which is captioned Arkansas Teacher Retirement System v. Insulet Corporation, 15-cv-12345 (D. Mass.), asserts claims under the Securities Exchange Act of 1934 on behalf of investors in Insulet securities during the time period of May 7, 2013 to April 30, 2015, inclusive (the "Class Period"). 

The Complaint alleges that during the Class Period, Insulet misrepresented the success of the rollout of its new insulin infusion system known as the OmniPod Eros ("OmniPod"). The complaint also alleges that the Company manipulated the way that it was reporting the number of new patients that were using OmniPod, and inflated its level of international sales in order to conceal Insulet's declining growth. When the truth regarding Insulet's problems introducing the new OmniPod and slowing growth were ultimately revealed, the price of Insulet stock declined from $29.85 per share to $26.97 per share.

If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than July 6, 2015, which is 60 days from the date that notice of pendency of the filing of Murphy v. Insulet Corporation, No. 15-cv-11782 (D. Mass. filed May 5, 2015) was published. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.

If you wish to discuss this Action or have any questions concerning this notice or your rights or interests, please contact Avi Josefson of BLB&G at 212-554-1493, or via e-mail at avi@blbglaw.com.

Since its founding in 1983, BLB&G has built an international reputation for excellence and integrity. Specializing in securities fraud, corporate governance, shareholders' rights, employment discrimination, and civil rights litigation, among other practice areas, BLB&G prosecutes class and private actions on behalf of institutional and individual clients worldwide. Unique among its peers, BLB&G has obtained several of the largest and most significant securities recoveries in history, recovering billions of dollars on behalf of defrauded investors. More information about BLB&G can be found online at www.blbglaw.com.

Contact Information

  • CONTACT:
    Avi Josefson
    Bernstein Litowitz Berger & Grossmann LLP
    1285 Avenue of Americas, 38th Floor
    New York, New York 10019
    Telephone: (212) 554-1493