NEW YORK, May 28, 2024 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Inari Medical, Inc. (“Inari” or the “Company”) (NASDAQ: NARI) securities during the period of February 24, 2022 through February 28, 2024, inclusive (“the Class Period”). Investors have until July 12, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
[Click here to learn more about the class action]
On February 28, 2024, Inari filed its Form 10-K for the fiscal year 2023 with the U.S. Securities and Exchange Commission (SEC). The Company revealed in this filing that it had received a civil investigative demand from the U.S. Department of Justice 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. On this news, the price of Inari shares declined by $12 per share, or approximately 20.8%, from $58.26 per share on February 28, 2024 to close at $46.12 on February 29, 2024.
The lawsuit alleges that throughout the Class Period, Inari failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Company repeatedly touted Inari’s financial results and the success of its product sales, but failed to disclose that these numbers were inflated by bribes and other improper and illegal payments to healthcare providers.
If you purchased or otherwise acquired Inari securities, have information, or would like to learn more about this investigation, please contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or by filling out this CONTACT FORM, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1180
https://www.kmllp.com
investigations@kmllp.com
