Case Summary

Inari Medical

NASDAQ: NARI

Case Details

  • Michiana Area Electrical Workers' Pension Fund v. Inari Medical, Inc. et al.
  • Class Period:February 24, 2022 - February 28, 2024
  • Date Filed:May 13, 2024
  • Jurisdiction:U.S. District Court, Southern District of New York
  • Docket Number: 1:24-cv-03686
  • Lead Plaintiff Deadline: July 12, 2024
Days Left to
Seek Plaintiff
48

Overview

A class action lawsuit has been filed against Inari Medical, Inc. (“Inari” or the “Company”) (NASDAQ: NARI) and certain of the Company’s current and former senior executive officers alleging violations of the federal securities laws.  The Inari lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired common stock of Inari between February 24, 2022, through February 28, 2024, both dates inclusive (the “Class Period”).  Investors have until July 12, 2024, to seek appointment as lead plaintiff of the Inari class action lawsuit.

Inari is a medical device company.  The Company’s products primarily consist of ClotTriever and FlowTriever systems, which are catheter-based mechanical thrombectomy systems that are used for the treatment of the venous thromboembolism (VTE) deep vein thrombosis (DVT) and pulmonary embolism (PE).

The Inari lawsuit alleges that throughout the Class Period, Defendants 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 alleged in the lawsuit, on February 29, 2024, Inari disclosed it had received a civil investigative demand by the U.S. Department of Justice 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 their business, results of operations, or financial condition.  On this news Inari’s share price plummeted 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.

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If you purchased or otherwise acquired common stock of Inari between February 24, 2022 through February 28, 2024, both dates inclusive, and you wish to serve as lead plaintiff in this lawsuit, we encourage you to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt partner Brian O’Mara by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Inari lawsuit is July 12, 2024.

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