NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until April 2, 2021 to file lead plaintiff applications in a securities class action lawsuit against iRhythm Technologies (NasdaqGS: IRTC), if they purchased the Company’s shares between August 4, 2020 and January 28, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.
What You May Do
If you purchased securities of iRhythm and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgs-irtc/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by April 2, 2021.
About the Lawsuit
iRhythm and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 1, 2020, the Centers for Medicare and Medicaid Services (CMS) announced its 2021 Medicare Physician Fee Schedule (MPFS) Final Rule establishing the payment policies and rates that Medicare will use next year. However, the Rule did not finalize pricing reimbursement rates for several items relevant to the Company, including codes related to cardiac monitoring. On this news, the price of iRhythm’s shares plummeted approximately 20%.
Then, on January 29, 2021, an analyst at Baird Research noted that Medicare Administrative Contractor rates published by Novitas Solutions, a Medicare administrative contractor, “look way lower” than those published in the MPFS.
On this news, the price of iRhythm’s shares plummeted approximately 33%.
The case is Habelt v. iRhythm Technologies, Inc., et al., No. 3:21-cv-00776.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.