iRhythm Technologies, Inc. Securities Fraud Class Action

Case Background:
This is a federal securities class action lawsuit on behalf of those who purchased or otherwise acquired iRhythm Technologies, Inc. (“iRhythm”) (NASDAQ: IRTC) securities between August 4, 2020 and July 13, 2021, inclusive (the “Class Period”).

The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the company’s business, as well as failed to disclose material adverse facts to investors. Specifically, the complaint alleges that Defendants misrepresented and/or failed to disclose to investors that: (1) iRhythm’s business would suffer as a result of the CMS’s 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/or misleading at all relevant times.

Current Status of Case:
On March 31, 2022, the Court granted Defendants’ Motion to Dismiss. The Lead Plaintiff filed a Notice of Appeal on April 29, 2022, and on October 11, 2023, the Ninth Circuit Court of Appeals denied Plaintiffs’ Appeal and dismissed the case. Plaintiffs filed a Petition for a Writ of Certiorari on April 16, 2024. On October 7, 2024, the Supreme Court of the United States denied the Petition for a Writ of Certiorari. This action has concluded.

If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at [email protected]. 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.

ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP:
Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs’ Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.