SAN DIEGO, Aug. 29, 2025 /PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Semler Scientific, Inc. (NASDAQ:SMLR) securities between March 10, 2021 and April 15, 2025. Semler Scientific describes itself as a company that develops and markets technology products and services that assist its customers in evaluating and treating chronic diseases.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.
The Allegations: Robbins LLP is Investigating Allegations that Semler Scientific, Inc. (SMLR) Failed to Disclose it Was Being Investigated for Violations of the False Claims Act
According to the complaint, during the class period, defendants failed to disclose a material investigation by the United States Department of Justice into violations of the False Claims Act, while discussing possible violations of the False Claims Act (and aggressive DOJ enforcement thereof) in hypothetical terms.
Plaintiff alleges that on February 28, 2025, Semler Scientific first revealed that in July 2017, it had "received an initial civil investigative demand ("CID") from the U.S. Department of Justice ("DOJ") pursuant to the federal False Claims Act investigating whether the Company and others may have violated the False Claims Act by marketing tests on devices that use photoplethysmography technology as reimbursable by Medicare in alleged contravention of applicable laws and regulations." Semler Scientific revealed it had received multiple subsequent CIDs from the DOJ. On February 11, 2025, Semler Scientific engaged in unsuccessful settlement discussions with the DOJ, which posed a "risk that DOJ will file a complaint or complaint in intervention in a civil False Claims Act lawsuit seeking damages." On this news, Semler Scientific stock fell $4.03, or 9.38%, to close at $38.89 on March 3, 2025.
The complaint continues that on April 15, 2025, Semler Scientific filed with the SEC a report on Form 8-K noting that it had reached an agreement with the DOJ to settle the claim for $29.75 million, excluding attorney fees that may be payable. The report also noted that further payment may be necessary, and the risk of a DOJ lawsuit still exists. On this news, the price of Semler Scientific stock fell by $3.40 per share, or 9.88%, to close at $31.00 on April 16, 2025.
What Now: You may be eligible to participate in the class action against Semler Scientific, Inc. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.
All representation is on a contingency fee basis. Shareholders pay no fees or expenses.
About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.
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SOURCE Robbins LLP
