BOCA RATON, Fla., Dec. 22, 2023 (GLOBE NEWSWIRE) -- Saxena White P.A. has filed a securities fraud class action lawsuit (the "Class Action") in the United States District Court for the District of Minnesota against Inspire Medical Systems, Inc. ("Inspire Medical" or the "Company") (NYSE:INSP) and certain of its executive officers (collectively, "Defendants"). The Class Action asserts claims under Sections 10(b) and 20(a) of the Securities and Exchange Act of 1934 (the "Exchange Act") and U.S. Securities and Exchange Commission ("SEC") Rule 10b-5 promulgated thereunder on behalf of all persons or entities who purchased Inspire Medical's common stock between May 3, 2023 and November 7, 2023, inclusive (the "Class Period"), and were damaged thereby (the "Class"). The Class Action filed by Saxena White is captioned: City of Hollywood Firefighters' Pension Fund v. Inspire Medical Systems, Inc., No. 23-cv-03884 (D. Minn.).
Inspire Medical is a medical technology company that develops and commercializes minimally invasive products for patients with obstructive sleep apnea ("OSA") that require prior authorizations from doctors. In 2022, Inspire Medical introduced a pilot program (the "Acceleration Program") through which the Company's Advisor Care Program team, with the customer on the phone, would directly access doctors' electronic schedules and schedule doctor appointments online, without the need for phone calls. Throughout the Class Period, Defendants touted the Acceleration Program's effectiveness, claiming ...