RADNOR, Pa., May 29, 2024 (GLOBE NEWSWIRE) — The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) informs investors that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York against Inari Medical, Inc. (“Inari Medical”) (NASDAQ: NARI) on behalf of investors who purchased or acquired Inari Medical common stock between February 24, 2022 through February 28, 2024, inclusive (the “Class Period”). The action charges Inari Medical with violations of the federal securities laws, including omissions and fraudulent misrepresentations relating to the company’s business, operations, and prospects. As a result of Inari Medical’s materially misleading statements and omissions to the public, Inari Medical’s investors have suffered significant losses.
The lead plaintiff deadline is July 12, 2024. If you suffered Inari Medical losses, you may CLICK HERE or go to: https://www.ktmc.com/new-cases/inari-medical-inc?utm_source=PR&utm_medium=link&utm_campaign=nari&mktm=r
You can also contact attorney Jonathan Naji, Esq. of Kessler Topaz by calling (484) 270-1453 or by email at info@ktmc.com.
DEFENDANTS’ ALLEGED MISCONDUCT
On February 28, 2024, Inari Medical revealed in its Form 10-K for fiscal year 2023 that the company had received a civil investigative demand from the U.S. Department of Justice, Civil Division, in connection with an investigation under the federal Anti-Kickback Statute and Civil False Claims Act, requesting information and documents primarily relating to meals and consulting service payments provided to health care professionals.
Following this news, Inari Medical’s stock price plummeted over $12 per share, or 21% the very next trading day, from a closing price of $58.26 per share on February 28, 2024, to $46.12 per share on February 29, 2024 – wiping out approximately $700 million in market capitalization in one trading day.
WHAT CAN I DO?
Inari Medical investors may, no later than July 12, 2024, seek to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, LLP or other counsel, or may choose to do nothing and remain an absent class member. Kessler Topaz Meltzer & Check, LLP encourages Inari Medical investors who have suffered significant losses to contact the firm directly to acquire more information. The class action complaint against Inari Medical, Michiana Area Electrical Workers’ Pension Fund v. Inari Medical, Inc., et al., Case No. 24-cv-03686, is filed in the United States District Court for the Southern District of New York and is pending before the Honorable Jennifer Hutchison Rearden.
CLICK HERE TO SIGN UP FOR THE CASE or go to: https://www.ktmc.com/new-cases/inari-medical-inc?utm_source=PR&utm_medium=link&utm_campaign=nari&mktm=r
WHO CAN BE A LEAD PLAINTIFF?
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
ABOUT KESSLER TOPAZ MELTZER & CHECK, LLP
Kessler Topaz Meltzer & Check, LLP prosecutes class actions in state and federal courts throughout the country and around the world. The firm has developed a global reputation for excellence and has recovered billions of dollars for victims of fraud and other corporate misconduct. All of our work is driven by a common goal: to protect investors, consumers, employees and others from fraud, abuse, misconduct and negligence by businesses and fiduciaries. The complaint in this action was not filed by Kessler Topaz Meltzer & Check, LLP. For more information about Kessler Topaz Meltzer & Check, LLP please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
Jonathan Naji, Esq.
(484) 270-1453
280 King of Prussia Road
Radnor, PA 19087
info@ktmc.com
May be considered attorney advertising in certain jurisdictions. Past results do not guarantee future outcomes.
