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BOSTON, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockleviton.com), a national securities litigation firm, announces that it has filed a class action lawsuit on behalf of shareholders against iRhythm Technologies, Inc. (NASDAQ: IRTC) and one of its former executives for securities fraud. Investors who purchased IRTC shares between August 4, 2020 and January 28, 2021 and who lost money are strongly encouraged to contact Block & Leviton attorneys at (617) 398-5600, via email at email@example.com, or visit our website at https://www.blockleviton.com/cases/irtc for information on the case. The deadline to move the Court for appointment as lead plaintiff is April 2, 2021.
iRhythm Technologies provides wearable biosensor devices to detect and monitor heart arrythmias. On December 2, 2020, iRhythm issued a press release stating that new Centers for Medicare and Medicaid Services (CMS) physician fee guidelines would change how payments for its Zio XT remote cardiac monitoring services would be calculated. On this news, IRTC shares dropped approximately 20%. Then on January 29, 2021, a Baird research analyst noted that Medicare Administrative Contractor rates affecting heart monitors are “way lower” than those published in the Medicare Physician Fee Schedule. On this news, IRTC shares closed down approximately 33%, wiping out billions of dollars in market capitalization.
The lawsuit was filed in the U.S. District Court for the Northern District of California, and has not yet been assigned to a specific courthouse or judge. The case is captioned Habelt v. iRhythm Technologies, Inc., et al., No. 3:21-cv-00776 (N.D. Cal.). The class period is August 4, 2020 to January 28, 2021.
If you purchased or acquired IRTC shares between August 4, 2020 and January 28, 2021 and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorneys at (617) 398-5600, via email at firstname.lastname@example.org, or visit our website at https://www.blockleviton.com/cases/irtc.The deadline to seek appointment as lead plaintiff in the matter is April 2, 2021.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
This notice may constitute attorney advertising.
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SOURCE: Block & Leviton LLP