| COMPANY |
Inari Medical, Inc. |
| COURT |
United States District Court for the Southern District of New York |
| CASE NUMBER |
24-cv-03686 |
| JUDGE |
The Hon. Jennifer Hutchison Rearden |
| CLASS PERIOD |
March 10, 2021 through February 28, 2024 |
| SECURITY TYPE |
Securities |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Inari Medical, Inc. (“Inari Medical”) (NASDAQ: NARI) securities between March 10, 2021 and February 28, 2024, both dates inclusive (the “Class Period”).
The Complaint alleges that, throughout the Class Period, Defendants consistently touted Inari Medical’s “record revenue,” purportedly driven by “the strength in our core VTE business” but failed to disclose that a significant portion of its expenses were used to compensate medical professionals improperly for using Inari Medical’s products. In truth, while Defendants were speaking positively about the company’s growth prospects, Inari Medical had been engaging in illegal business practices. Specifically, Inari Medical had been unlawfully compensating health care professionals in violation of the federal Anti-Kickback Statute and Civil False Claims Act while also misleading investors regarding business expenses in order to conceal their illicit conduct.
Current Status of Case:
On May 13, 2024, the Initial Complaint was filed. Motions to Consolidate Cases, Appoint Lead Plaintiff, and Appoint Counsel were filed July 12, 2024. The Motions are pending decision before the Court. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.