Grant & Eisenhofer Files Class Action Lawsuit Against Inari Medical, Inc. on Behalf of Institutional Investor
The suit, brought in federal court in the
The action is brought on behalf of all persons or entities who purchased or acquired Inari common stock between
The complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Inari is a medical device company that develops and manufactures a variety of products, including minimally invasive, novel, catheter-based mechanical thrombectomy devices and their accessories to address the unique characteristics of specific medical conditions. These products are aimed at improving outcomes for patients suffering from venous thromboembolism (“VTE”) and other vascular diseases and conditions. During the Class Period, Defendants consistently touted Inari’s “record revenue,” purportedly driven by “the strength in our core VTE business.” But Defendants failed to disclose that a significant portion of its expenses were used to compensate medical professionals improperly for using Inari’s products. In truth, while Defendants were speaking positively about the Company’s growth prospects, it had been engaging in illegal business practices. Specifically, the Company had been unlawfully compensating health care professionals in violation of the federal Anti-Kickback Statute and Civil False Claims Act. Defendants also misled investors regarding business expenses in order to conceal their illicit conduct.
The market was thus shocked when, after the close of trading on
For investors who purchased or acquired Inari common stock during the Class Period, you are a member of this proposed Class and may be able to seek appointment as lead plaintiff, which is a court-appointed representative for the Class, by complying with the relevant provisions for the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). See 15 U.S.C. Section 78u-4(a)(2)(A)(i)-(iv). If you wish to serve as lead plaintiff, you must move the Court by no later than
If you wish to discuss this action or have any questions concerning this notice or your rights, please contact
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Grant & Eisenhofer
646-722-8513
cmoyna@gelaw.com
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