IRTC NEWS: Johnson Fistel Encourages iRhythm Technologies Investors to Seek Counsel Before Lead Plaintiff Class Action Deadline
Johnson Fistel, LLP notifies investors of iRhythm Technologies, Inc. (NASDAQ: IRTC) that a securities class action lawsuit has been filed.
According to the lawsuit, defendants falsely represented to investors that one of iRhythm’s main products, the Zio AT monitor, was a real-time heart monitor intended for high-risk patients. Specifically, defendants repeatedly touted the potential growth for the Zio AT as an innovative product that had only just begun to penetrate the market for real-time monitoring, which investors looked upon favorably given the premium selling price associated with devices approved for high-risk patients. As a result of these misrepresentations, the price of iRhythm common stock traded at artificially inflated prices throughout the class period.
The lawsuit seeks to recover losses on behalf of investors who acquired securities between January 11, 2022 and May 30, 2023. Investors have until April 8, 2024, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
What can Investors Do: Shareholders who incurred losses during the class period, have until April 8, 2024, to move the court to become a lead plaintiff in this action. A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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