NEW YORK, March 24, 2021 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of iRhythm Technologies, Inc. ("iRhythm" or the "Company") (NASDAQ: IRTC). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether iRhythm and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On January 29, 2021, Medicare Administrative Contractor Novitas Solutions published reimbursement rates for extended external electrocardiography (EKG) devices, including iRhythm's wearable heart rate monitors, under the U.S. Centers for Medicare and Medicaid Services 2021 Medicare Physician Fee Schedule. The posted reimbursement rates ranged from $40 to $80, representing a drop of hundreds of dollars from prior reimbursement rates. A Baird analyst cited one example where iRhythm was previously reimbursed approximately $311, but would now receive just $42.68. On this news, iRhythm's stock price fell $82.58 per share, or 32.9%, to close at $168.42 per share on January 29, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
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SOURCE Pomerantz LLP