Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of Inari Medical, Inc. (NARI) Investors

Business Wire 16-May-2024 6:39 PM

Glancy Prongay & Murray LLP ("GPM"), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Inari Medical, Inc. ("Inari" or the "Company") (NASDAQ:NARI) common stock between February 24, 2022 through February 28, 2024, inclusive (the "Class Period"). Inari investors have until July 12, 2024 to file a lead plaintiff motion.

If you suffered a loss on your Inari investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Inari-Medical-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at shareholders@glancylaw.com to learn more about your rights.

On February 29, 2024, Inari announced 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, Inari's stock price fell $12.14, or 20.8%, to close at $46.12 per share on February 29, 2024, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants: (1) 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; and (2) as a result, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Inari common stock during the Class Period, you may move the Court no later than July 12, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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