NEW YORK, NY / ACCESSWIRE / January 29, 2021 / Labaton Sucharow LLP, a nationally ranked and award-winning investor rights law firm, announces it is developing a proprietary investigation concerning potential securities fraud claims on behalf of shareholders of iRhythm Technologies Inc. (NASDAQ:IRTC) resulting from allegations that iRhythm may have issued materially misleading business information to the investing public.
iRhythm Technologies provides wearable biosensor devices to detect and monitor heart arrhythmias. 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 have fallen approximately 45% in intraday trading.
If you are a shareholder or option holder that suffered losses in iRhythm, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact David J. Schwartz using the toll-free number (800) 321-0476 or via email at [email protected].
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SOURCE: Labaton Sucharow LLP