Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against iRhythm Technologies, Inc. (IRTC)

NEW YORK, February 02, 2021 (GLOBE NEWSWIRE) – Gainey McKenna & Egleston announces that a class action lawsuit has been filed against iRhythm Technologies, Inc. (“iRhythm” or the “Company”) (NASDAQ: IRTC) in the US District Court United States for the Northern District of California on behalf of those who purchased or acquired the iRhythm securities between August 4, 2020 and January 28, 2021, inclusive (the “Class Period”). The lawsuit aims to seek damages for iRhythm investors in accordance with federal securities laws.

The complaint alleges that throughout the class period and in violation of the Stock Exchange Act, the defendants made materially false and / or misleading statements and did not communicate any material adverse facts to investors. In particular, Defendants have misrepresented and / or failed to disclose to investors that: (i) iRhythm’s business would suffer under the CMS rulings; (ii) the reimbursement rates would actually decrease; (iii) a lack of national prices in the CMS rule and fee schedule would create uncertainty and weakness in the company’s business; and (iv) as a result of the foregoing, the defendants’ public statements at all relevant times have been materially false and misleading.

Investors who purchased or otherwise acquired iRhythm stock during the class period should contact the company before April 2, 2021 Deadline for the main plaintiff’s motion. A lead plaintiff is a representative party who acts on behalf of other class members in directing the dispute. If you would like to discuss your rights or interests in relation to this class action lawsuit, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. from Gainey McKenna & Egleston at (212) 983-1300 or by email at tjmckenna@gme-law.com or Gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the company.

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