NEW ORLEANS, June 12, 2024 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until July 12, 2024 to file lead plaintiff applications in a securities class action lawsuit against Inari Medical, Inc. (NasdaqGS: NARI), if they purchased the Company’s shares between February 24, 2022 and February 28, 2024, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
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Inari investors should visit us at https://claimsfiler.com/cases/nasdaq-nari/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Inari Medical and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 29, 2024, the Company disclosed the receipt of 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, and warned that “depending on the outcome of the investigation, there may be a material impact on our business, results of operations, or financial condition.”.
On this news, the price of Inari Medical’s shares fell by over $12 per share, or 21%, 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.
The case is Michiana Area Electrical Workers’ Pension Fund, IBEW Local 153 v. Inari Medical, Inc., et al, No. 24-cv-03686.
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