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Oklahoma City, OK (February 3, 2021) – On February 1, 2021, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against iRhythm Technologies, Inc. (NASDAQ: IRTC). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is August 4, 2020 through January 28, 2021. More specifically, the complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) iRhythm’s business would suffer as a result of the U.S. Centers for Medicare and Medicaid Services’ (“CMS”) rulemaking; (2) reimbursement rates would in fact plummet; (3) a lack of national pricing in the CMS rule and fee schedule would cause uncertainty and weakness in the Company’s business; and (4) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Plaintiff seeks to recover damages on behalf of all iRhythm Technologies, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Friday, April 2, 2021 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at firstname.lastname@example.org