IRTC - IRHYTHM ALERT: Bragar Eagel & Squire P.C. Announces that a Class Action Lawsuit Has Been Filed Against iRhythm Technologies Inc. and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, announces that a class action lawsuit has been filed against iRhythm Technologies, Inc. ("iRhythm" or the "Company") (NASDAQ:IRTC) in the United States District Court for the Northern District of California on behalf of all persons and entities who purchased or otherwise acquired iRhythm common stock between January 11, 2022, and May 30, 2023, both dates inclusive (the "Class Period"). Investors have until April 8, 2024 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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iRhythm develops and manufactures heart monitoring devices designed to diagnose arrythmias. The Company's principal product is a monitoring patch that provides electrocardiogram ("ECG") monitoring for up to 14 days, called Zio XT. The Zio XT is intended for non-critical patients, as it does not provide real-time reporting.
In 2017, iRhythm developed Zio AT, a device the Company described as "offer[ing] the full benefits of [its] Zio XT Service, with the addition of real-time data transmission and notification of actionable clinical events." Actionable arrhythmic events include atrial fibrillation, a condition that can cause troubling symptoms and serious medical complications, including blood clots that can lead to stroke and heart failure. The Zio AT comes with a cellular transmittal device that provides connectivity between the Zio AT and the proprietary algorithmic software that analyzes the ECG data and detects arrhythmic events for the 14-day wear period. Importantly, given its purported capabilities to provide "real-time" notifications of arrhythmic events, the Zio AT device is marketed to high-risk patients as a mobile cardiac telemetry device. These types of heart monitors that are approved for ...