Insulet (PODD) December 5, 2016 Emails to Board Members

Ms._______,

 

I am contacting you today to inform you of research we have conducted in the past few months on Insulet. Please see the following links and pay particular attention to #5 and #6.

 

1. Insulet has not previously disclosed patient deaths, a whistleblower allegation of a patient death caused by the Omnipod, and at least 51 alleged risks to children who use the device (See Exhibit 5 of this report). Insulet has also not provided any update to shareholders about the FDA investigation into its needle mechanism defect since July 29, 2016. See our report:

 

http://skytides.com/article/insulet-undisclosed-patient-deaths-%E2%80%9C...

 

2. We listed a number of questions that we felt management should answer for investors during its recent investor day. Management was made aware of these questions by direct email to the investor relations staff but chose not to address any of them. The questions remain open.

 

http://skytides.com/article/insulet-podd-november-16-2016-investor-day-q...

 

3. We believed management was misleading investors about competitive threats from Medtronic, among others.

 

http://skytides.com/article/insulet-analysts-confirm-our-views-valuation...

 

4. We proved Shacey Petrovic misled investors when she said that Medtronic would not focus on multiple daily injection patients.

 

http://skytides.com/article/insulet-president-provided-critical-misinfor...

 

5. We uncovered a previously undisclosed and apparently settled litigation that alleged a number of criminal actions by Insulet’s CEO, a copy of the litigation complaint is attached.

 

http://skytides.com/article/insulet-investors-being-led-slaughter-ceo-re...

 

6. We alerted the Massachusetts Attorney General to the allegations included within the litigation.

 

http://skytides.com/article/insulet-podd-november-21-2016-letter-massach...

 

We and other investors are short shares of Insulet at this time and we stand to benefit if the price of the stock goes down. You can therefore correctly claim we are biased when we publish anything about Insulet. However, I don’t think bias is an issue at this point. Insulet’s Board of Directors needs to act immediately to investigate Mr. Sullivan’s actions with regard to Mr. Oliva, demand that management answer the questions that we posed to the investor relations team and to fully inform its investors of the status of the FDA investigation, its true competitive position in the marketplace, and its plans to hopefully resolve the various product defects associated with its products.

 

We hope you will take action.

 

Please contact me with any questions. Thank you for your time.

 

Best,
Jay

 

Enclosure: Oliva Complaint

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