Overview

• A class action lawsuit has been filed against iRhythm Technologies, Inc. for allegedly misrepresenting the capabilities of its Zio AT heart monitor.
• The lawsuit covers all persons and entities who purchased or otherwise acquired iRhythm common stock between January 11, 2022, and May 30, 2023.
• iRhythm is accused of falsely marketing the Zio AT as a real-time monitor for high-risk patients, leading to artificially inflated stock prices.
• The company faced a series of disclosures starting November 2022, revealing issues with the Zio AT's marketing and capabilities, significantly impacting its stock price.
• The FDA issued a warning letter to iRhythm on May 30, 2023, highlighting false marketing and deficiencies in the Zio AT device.