NARI SHAREHOLDER ALERT: Faruqi & Faruqi, LLP investigates claims on behalf of Inari investors

James (Josh) Wilson, securities litigation partner at Faruqi & Faruqi, LLP, encourages investors who suffered losses in excess of $100,000 in Inari to contact him directly to discuss their options

If you have incurred losses exceeding USD 100,000 on investments in Inari shares or options between March 10, 2021 and February 28, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (extension 1310). For more information you can also click here: www.faruqilaw.com/NARI.

New York, New York–(Newsfile Corp. – July 6, 2024) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Inari Medical, Inc. (“Inari” or the “Company”) (NASDAQ: NARI) and reminds investors of the July 12, 2024 Deadline to apply to serve as lead plaintiff in a class action lawsuit in federal court filed against the Company.

Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. Since its founding in 1995, the firm has recovered hundreds of millions of dollars for investors. See www.faruqilaw.com.

The lawsuit alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Inari is a medical device company that develops and manufactures a variety of products, including minimally invasive, novel, catheter-based mechanical thrombectomy devices and their accessories to address the unique characteristics of specific medical conditions. These products are designed to improve treatment outcomes for patients with venous thromboembolism (“VTE”) and other vascular diseases and conditions. During the Class Period, defendants continually touted Inari’s “record revenues,” which they claimed were due to “the strength of our core VTE business.” However, Defendants failed to disclose material adverse facts necessary to make the statements not misleading under the circumstances under which they were made because: (1) Defendants failed to disclose that the Company’s reported revenue growth and sales and marketing success were due in substantial part to payments made by the Company to healthcare professionals for meals and consulting services in violation of the federal Anti-Kickback Act and the Civil False Statements Act; (2) the Company warned of risks in the event that the Company’s business was found to violate any of the federal Anti-Kickback Act and the Civil False Statements Act, even though those risks had already materialized at the time; and (3) Defendants’ positive statements about the Company’s business, operations and prospects were materially misleading and/or lacked a reasonable basis due to the foregoing circumstances.

On February 28, 2024, Inari Medical released its fourth quarter and full year 2023 financial results. The Company also announced that it had received a civil investigative subpoena from the U.S. Department of Justice regarding an investigation under the federal Anti-Kickback Act and the Civil False Claims Act related to payments to healthcare professionals.

On this news, Inari’s share price decreased by $12.14 per share, or approximately 20.8%, from $58.26 per share on February 28, 2024 to $46.12 on February 29, 2024.

The court-appointed lead plaintiff will be the investor with the greatest financial interest in the relief sought by the class, who is reasonable and typical of class members, and who will direct and oversee the litigation on behalf of the putative class. Any member of the putative class may, through counsel of his or her choosing, ask the court to serve as lead plaintiff, or he or she may choose to do nothing and remain an absent class member. Your ability to share in any relief will not be affected by your decision to serve as lead plaintiff.

Faruqi & Faruqi, LLP also encourages anyone with information regarding Inari’s conduct, including whistleblowers, former employees, shareholders and others, to contact the firm.

Learn more about the Inari Class action lawsuit, go to www.faruqilaw.com/NARI or Call Faruqi & Faruqi Partner Josh Wilson direct at 877-247-4292 or 212-983-9330 (extension 1310).

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To view the original version of this press release, please visit https://www.newsfilecorp.com/release/215391