Schall Law Firm reminds Insulet Corporation investors of PODD securities fraud class action

LOS ANGELES, July 7. The Schall Law Firm reminded investors Tuesday of a pending class action against Insulet Corporation (NASDAQ: PODD), citing alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act. The Los Angeles firm, which describes itself as a national shareholder rights litigation practice, said investors retain the opportunity to seek the lead plaintiff role in the case.

The securities fraud allegations

The complaint against Insulet names two provisions of the Securities Exchange Act. Section 10(b) is the principal federal anti-fraud statute governing securities purchases and sales; Section 20(a) holds controlling persons liable when someone under their direction has violated the Act. The Schall Law Firm's announcement did not identify the specific misstatements or omissions alleged, the class period, or the amount of investor losses at issue in the Insulet action.

Lead plaintiff window

Courts overseeing securities class actions appoint a lead plaintiff to direct litigation strategy on behalf of all class members. The firm's Tuesday reminder told PODD holders they still have standing to seek that designation. No motion deadline was disclosed in the announcement.

The source summary provided for this article was truncated and did not include the class period, named defendants beyond Insulet Corporation itself, or any claimed damages figure. The Schall Law Firm is a national shareholder rights litigation firm based in Los Angeles. Insulet Corporation, identified in the complaint as "Insulet" or "the Company," trades on the Nasdaq under the ticker symbol PODD.