Business Wire | Jan 29, 2021 10:50PM EST

IRHYTHM INVESTIGATION CONTINUED by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Continues to Investigate Claims On Behalf of Investors of iRhythm Technologies - IRTC

Jan. 30, 2021

NEW ORLEANS--(BUSINESS WIRE)--Jan. 30, 2021--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), continues to investigate claims on behalf of investors of iRhythm Technologies (NasdaqGS: IRTC). Such investors are advised to contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-irtc/ to learn more.

The investigation concerns whether iRhythm and certain of its officers and/or directors have engaged in fraud, negligence or other unlawful business practices.

On December 1, 2020, the Centers for Medicare and Medicaid Services (CMS) announced its 2021 Medicare Physician Fee Schedule (MPFS) Final Rule establishing the payment policies and rates that Medicare will use next year. However, the Rule did not finalize pricing reimbursement rates for several items relevant to the Company, including codes related to cardiac monitoring. On this news, the price of iRhythm's shares plummeted approximately 20%.

Then, on January 29, 2021, an analyst at Baird noted that Medicare Administrative Contractor rates published by Novitas Solutions, a Medicare administrative contractor, "look way lower" than those published in the MPFS. On this news, IRTC shares fell sharply during intraday trading.

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. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

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CONTACT: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner lewis.kahn@ksfcounsel.com 1-877-515-1850