1. Wolf Haldenstein investigates potential fiduciary breaches by Semler's management. 2. Securities fraud claims may arise against Semler's officers and directors. 3. Semler faces ongoing scrutiny from the U.S. Department of Justice since 2017. 4. Unsuccessful settlement discussions with DOJ raise risks of further legal action. 5. Potential civil lawsuit could lead to significant financial implications for Semler.
The investigation and ongoing DOJ scrutiny create significant uncertainty and risk, reminiscent of past cases where companies faced severe penalties and loss of investor confidence, such as Pfizer when faced with similar allegations.
The severity of potential consequences from the DOJ investigation and the fiduciary breach claim indicates a high likelihood of impacting SMLR's stock price.
Legal investigations typically impact stock prices quickly due to immediate investor sentiment shifts, as seen with companies like Theranos.
NEW YORK, May 19, 2025 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein"), a preeminent national shareholder rights litigation firm, announces its investigation of potential breaches of fiduciary duty by the Board of Directors and senior management of Semler Scientific Inc. (NASDAQ: SMLR) ("Semler" or the "Company").
The investigation concerns whether and certain of its officers and/or directors have engaged in securities fraud.
On February 28, 2025, Semler filed its Form 10-K with the SEC and therein, disclosed that the Company received an initial civil investigative demand from the U.S. Department of Justice in July 2017 regarding Semler's claims for reimbursement related to the QuantaFlo device. Semler received subsequent requests for information in February 2019, December 2021, April 2022, and April 2023. In February 2025, Semler participated in settlement discussions with the DOJ, which were unsuccessful. The Company disclosed that "there is a risk that DOJ will file a complaint or complaint in intervention in a civil False Claims Act lawsuit seeking damages."
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly lauded by the courts, which have appointed it to major positions in complex securities, multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at [email protected].
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP