NEW ORLEANS, March 19, 2024 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 8, 2024 to file lead plaintiff applications in a securities class action lawsuit against iRhythm Technologies, Inc. (NasdaqGS: IRTC), if they purchased the Company’s shares between January 11, 2022, and May 30, 2023, 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 shares 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 (lewis.kahn@ksfcounsel.com), 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, you must petition the Court by April 8, 2024.
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 May 30, 2023, the Company disclosed the receipt of a Warning Letter from the FDA regarding “non-conformities to regulations for medical devices, including medical device reporting requirements, relating to the Company’s Zio AT System and medical device quality system requirements,” specifically addressing a series of deficiencies tied to the marketing and capabilities of the Zio AT device that potentially posed a known but undisclosed risk to patients, for example transmission limits of arrhythmia or heart irregularity events.
On this news, the price of iRhythm’s shares fell $7.41 per share, or 6.1%, from a closing price of $121.68 on May 30, 2023, to a closing price of $114.27 on May 31, 2023.
The case is Glazing Employers and Glaziers’ Union Local #27 Pension and Retirement Fund v. iRhythm Technologies, Inc., No. 24-cv-706.
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 recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
