NEW ORLEANS, June 7, 2024 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have untilJuly 12, 2024 to file lead plaintiff applications in a securities class action lawsuit against Inari Medical, Inc. (NasdaqGS: NARI), if they purchased the Company's shares between February 24, 2022 and February 28, 2024, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Inari Medical and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-nari/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 12, 2024.
About the Lawsuit
Inari Medical and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 29, 2024, the Company disclosed the receipt of a civil investigative demand from the U.S. Department of Justice in connection with an investigation under the federal Anti-Kickback Statute and Civil False Claims Act, requesting information and documents primarily relating to meals and consulting service payments provided to health care professionals, 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.".
On this news, the price of Inari Medical's shares fell by 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 – wiping out approximately $700 million in market capitalization in one trading day.
The case is Michiana Area Electrical Workers' Pension Fund, IBEW Local 153 v. Inari Medical, Inc., et al, No. 24-cv-03686.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 960
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC
