Beta Bionics faces securities fraud class action over iLet device safety allegations

A class action lawsuit has been filed against Beta Bionics (BBNX) alleging securities fraud related to safety issues with its iLet insulin pump. The complaint claims the company failed to report over 18,000 user complaints to the FDA, including cases of severe hypoglycemia. The stock dropped 37% in January after missing patient-start estimates and another 4.9% in February after an FDA warning letter was made public. Investors have until Nov 3, 2026 to seek lead plaintiff status.