NEW YORK, Nov. 18, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky reminds investors that it has commenced an investigation of iRhythm Technologies, Inc. (IRTC) concerning possible violations of federal securities laws.
On March 13, 2019, Kerrisdale Capital issued a report alleging that “at the core of iRhythm’s revenue base is an exceedingly generous, but increasingly fragile, reimbursement regime.” Then on March 27, 2019, Washington Analysis LLC issued a report estimating that the Company could face a 45%-65% reimbursement cut for its Zio XT Patch. Following this news, shares of iRhythm fell from a close of $87.34 on march 13, 2019, to close at $74.96 on March 29, 2019.
On November 13, 2019, iRhythm disclosed its inability to file its quarterly report in a timely manner, citing accounting errors affecting prior periods that may result in correction of previously issued annual and quarterly financial statements.
On this news, iRhythm’s stock price fell over 6%. To obtain additional information, go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
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