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IRHYTHM INVESTIGATION CONTINUED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Continues to Investigate the Officers and Directors of iRhythm Technologies, Inc. - IRTC

1. KSF investigates iRhythm Technologies for potential shareholder fiduciary breaches. 2. The FDA issued a Warning Letter citing non-conformities in the Zio AT System. 3. iRhythm faces a class action lawsuit for failing to disclose material risks. 4. Court denied the motion to dismiss, allowing the case to proceed. 5. Concerns relate to marketing and patient safety regarding Zio AT device.

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Why Very Bearish?

The ongoing investigations and lawsuits pose significant reputational and financial risks. Historically, similar cases have caused stock prices to decline due to uncertainty around legal outcomes.

How important is it?

The article highlights critical legal challenges that can greatly influence investor confidence and stock performance. The fiduciary duties investigation compounds uncertainties regarding management credibility and financial stability.

Why Short Term?

Market reaction to lawsuits and FDA warnings typically affects stock prices quickly. Immediate investor sentiment could be drastically influenced by legal developments in the next few months.

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MDGLACHLHRC
, /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF continues its investigation into iRhythm Technologies, Inc. (NasdaqGS: IRTC). On May 30, 2023, the Company disclosed the receipt of a Warning Letter from the FDA regarding "non-conformities to regulations for medical devices, including medical device reporting requirements, relating to the Company's Zio AT System and medical device quality system requirements," specifically addressing a series of deficiencies tied to the marketing and capabilities of the Zio AT device that potentially posed a known but undisclosed risk to patients, for example transmission limits of arrhythmia or heart irregularity events. Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court denied the Company's motion to dismiss the case in part, allowing the case to continue. KSF's investigation is focusing on whether iRhythm's officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.  If you have information that would assist KSF in its investigation, or have been a long-term holder of iRhythm shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-833-938-0905 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-irtc/ to learn more. About Kahn Swick & Foti, LLC KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. This past year, KSF was ranked by SCAS among the top 10 firms nationally based upon total settlement value. KSF serves a variety of clients, including public and private institutional investors, and retail investors - in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana, Chicago, New Jersey, and a representative office in Luxembourg. TOP 10 Plaintiff Law Firms - According to ISS Securities Class Action Services To learn more about KSF, you may visit www.ksfcounsel.com. Contact: Kahn Swick & Foti, LLCLewis Kahn, Managing Partner[email protected]1-877-515-18501100 Poydras St., 960New Orleans, LA 70163 CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn SOURCE Kahn Swick & Foti, LLC WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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