iRhythm Technologies, Inc. is a digital healthcare company that develops and manufactures heart monitoring devices designed to diagnose arrhythmias. One of the Company’s main products, Zio AT, is a heart monitor patch with a transmittal device that reports arrhythmic events to iRhythm’s monitoring labs, which then notify the prescribing physician of the arrhythmic event.

A recently filed securities fraud class action complaint alleges that iRhythm (NASDAQ: IRTC), via certain of its officers and directors, falsely represented to investors that the Zio AT monitor was a real-time monitor intended for high-risk patients. Specifically, the Complaint alleges that Defendants repeatedly touted the potential growth for the Zio AT as an innovative product that had only just begun to penetrate the market for real-time monitoring, which investors looked upon favorably given the premium selling price associated with devices approved for high-risk patients. As a result of these misrepresentations, it is alleged that the price of iRhythm common stock traded at artificially inflated prices throughout the relevant time period.

Current iRhythm shareholders who have held iRhythm shares since prior to January 11, 2022, can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to contact Joshua H. Grabar at jgrabar@grabarlaw.com, Mia R. Heller at mheller@grabarlaw.com, or call us at 267-507-6085.