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NARI.US
id: 1219

Inari Medical (NARI) DOJ Investigation Case

The defendant has requested the court to dismiss the case.
S.D. New York
Court
1:24-cv-03686
Case number
02/24/2022
Class period Start
02/28/2024
Class period End
07/12/2024
Lead Plaintiff motion deadline

  • $NARI stockholder filed a claim vs. Inari Medical for hiding improper payments to medical professionals and engagement in illegal practices.

  • On February 28, 2024, the news about a DOJ investigation caused $NARI to fall 20%, losing $705M+ in shareholder value.

  • Affected $NARI investors may join the claim to be notified about potential recovery.

On February 28, 2024, Inari revealed a DOJ investigation into payments to healthcare professionals, focusing on potential violations of the Anti-Kickback Statute and Civil False Claims Act.

After this news, $NARI plummeted over 21% the next day.

Based on these events, $NARI stockholder filed a claim against Inari Medical and its leaders, accusing them of the following:

  • Inari claimed record revenue from its core VTE business but hid improper payments to medical professionals.

  • Inari engaged in illegal business practices, violating the federal Anti-Kickback Statute and Civil False Claims Act.

Considering all the representations, investors have reasons to suspect that Inari Medical hid improper payments to medical professionals and engaged in illegal practices.

One of $NARI investors has already filed a claim vs. Inari Medical in the S. D. of New York court.

Case Type
US Securities Class Action
Case Status
Motion to dismiss
Alleged Offence
Mismanagement, 
Misleading Statements, 
Omissions
Suspected Party
Directors, 
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
02/29/2024
Filing date
05/13/2024
Lead Plaintiff Deadline
07/12/2024