The Law Offices of Frank R. Cruz reminds investors of the upcoming November 7, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Tandem Diabetes Care, Inc. (“Tandem” or the “Company”) (NASDAQ: TNDM) securities between August 3, 2022 and November 2, 2022, inclusive (the “Class Period”).

If you are a shareholder who suffered a loss, click here to participate.

On November 2, 2022, Tandem revised its 2022 financial guidance downward, forecasting Non-GAAP sales of $800 to $805 million, down from $835 to $845 million. The Company attributed the revision to increased competition in the diabetes care sector, pandemic complications, and inflation.

On this news, Tandem’s stock price fell $15.62, or 30.4%, to close at $35.72 per share on November 3, 2022, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants: (1) failed to adequately account for the potential impact of the release of Omnipod 5 and the impact of that product on the Company’s revenue; (2) deliberately misled investors regarding the impact of Omnipod 5 on revenue; (3) misled investors by creating the false impression that the factors which led to the decreased sales guidance in August – competition, COVID, and inflation – had not been adequately controlled for and were, in fact, improving; (4) deliberately misled investors when stating that the second half of 2022 had been adequately predicted; and (5) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Tandem securities during the Class Period, you may move the Court no later than November 7, 2023 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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