NEW YORK–(BUSINESS WIRE)–#investigation–Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against iRhythm Technologies, Inc. (NASDAQ: IRTC) on behalf of iRhythm stockholders. Our investigation concerns whether iRhythm has violated the federal securities laws and/or engaged in other unlawful business practices.
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Between March 13, 2019 and March 27, 2019, certain analysts began publicly questioning (a) the sustainability of third party reimbursements to the Company attributable to sales of its Zio XT Extended Holter patch device, (b) whether the Company’s and management’s statements about the total addressable market for iRhythm products may have been misleading, and (c) whether the Company and management may have used “cookie jar” style accounting in accruing for bad debt expense and contractual allowances.
During the period in which these reports were published, the price of iRhythm shares significantly decreased.
Most recently, on November 13, 2019, iRhythm announced it will not timely file its Form 10-Q for the period ended September 30, 2019 due to “errors affecting prior periods in the course of preparing the Form 10-Q that require further analysis” and “[t]hese errors may result in the correction of previously issued annual and quarterly financial statements.”
On this news, the price of iRhythm’s stock declined as much as $11.13, or about 16.5%, on November 13, 2019.
If you purchased or otherwise acquired iRhythm shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at [email protected], or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.