PHILADELPHIA, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Kaskela Law LLC announces that it is investigating Inari Medical, Inc. ( NARI) on behalf of the company’s long-term shareholders.
https://kaskelalaw.com/cases/inari-medical/
Recently a securities fraud complaint was filed against Inari Medical on behalf of investors who purchased shares of the company’s stock between February 24, 2022 and February 28, 2024. According to the complaint, during that time period Inari Medical and certain of the company’s senior executive officers “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.”
As detailed in the complaint, on February 29, 2024, Inari shocked investors when the company disclosed it received a civil investigative demand by the U.S. Department of Justice (“DOJ”) over certain payments to healthcare professionals relating to meals and consulting services, 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.” Following this news, shares of Inari Medical’s stock fell $12.14 per share, or nearly 21% in value, to close on February 29, 2024 at $46.12 per share, on unusually heavy trading volume.
The investigation seeks to determine whether the members of Inari Medical’s board of directors violated the securities laws and/or breached their fiduciary duties in connection with the above alleged misconduct.
Inari Medical shareholders who purchased or acquired their currently held NARI shares prior to February 28, 2024 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750 for additional information about this investigation and their legal rights and options. Alternatively, investors may submit their information to the firm by clicking on the following link (or by copying and pasting the link into your browser):
https://kaskelalaw.com/cases/inari-medical/
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com
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