NEW YORK, NY / ACCESS Newswire / March 24, 2025 / Pomerantz LLP announces that a class action lawsuit has been filed against Zynex, Inc. ("Zynex" or the "Company") (NASDAQ:ZYXI). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, (or 888.4-POMLAW), toll-free, Ext. 7980. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and the number of shares purchased.
The class action concerns whether Zynex and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
You have until May 19, 2025 to ask the Court to appoint you as Lead Plaintiff for the class if you purchased or otherwise acquired Zynex securities during the Class Period. A copy of the Complaint can be obtained at www.pomerantzlaw.com.
[Click here for information about joining the class action]
On June 4, 2024, medical journal STAT published a report on Zynex entitled "How a device maker inundated pain patients with unwanted batteries and surprise bills." The report claimed Zynex engaged in an "oversupplying scheme" by sending inordinate amounts of monthly supplies like electrode pads and batteries in order to "bill insurers for thousands of dollars more than it otherwise could." The report further revealed that, as a result of this practice, insurers were "kicking the company out of network."
On this news, Zynex's stock price fell $0.50 per share, or 5%, to close at $9.35 per share on June 4, 2024.
Then, on March 11, 2025, Zynex reported its fourth quarter and full year 2024 financial results, revealing a revenue "shortfall" in the quarter "due to slower than normal payments from certain payers." Zynex also revealed that Tricare, the healthcare program for uniformed service members that "currently represents approximately 20-25% of [the Company's] annual revenue", "has temporarily suspended payments as they review prior claims."
On this news, Zynex's stock price fell $3.59 per share, or 51.3%, to close at $3.41 per share on March 12, 2025.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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.pomlaw.com.
Attorney advertising. Prior results do not guarantee similar outcomes.
SOURCE: Pomerantz LLP
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