NEW YORK, May 20, 2024 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Inari Medical, Inc. (“Inari” or the “Company”) (NASDAQ: NARI). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Inari and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until July 12, 2024, to ask the Court to appoint you as Lead Plaintiff for the class if you are a shareholder who purchased or otherwise acquired Inari securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On February 29, 2024, Inari disclosed receipt of a civil investigative demand by the U.S. Department of Justice (“DOJ”) over certain payments to healthcare professionals relating to meals and consulting services, and warned that “depending on the outcome of the investigation, there may be a material impact on our business, results of operations, or financial condition.” In response to the disclosure, analysts immediately downgraded the Company’s stock. Piper Sandler downgraded Inari from overweight to neutral and slashed its price target from $85 per share to $55 per share, stating that that it was moving to the sidelines due to the DOJ investigation and concerns regarding Inari’s business overall. Likewise, Needham stated that the investigation will create an overhang on the stock and some near-term selling pressure on the Company’s shares and could take years to resolve.
On this news, Inari’s stock price fell $12.14 per share, or 20.84%, to close at $46.12 per share on February 29, 2024.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Danielle Peyton
Pomerantz LLP
dpeyton@pomlaw.com
646-581-9980 ext. 7980
