GlobeNewswire Inc | Feb 2, 2021 05:20PM EST

February 02, 2021

NEW YORK, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against iRhythm Technologies, Inc. (iRhythm or the Company) (NASDAQ: IRTC) in the United States District Court for the Northern District of California on behalf of those who purchased or acquired the securities of iRhythm between August 4, 2020 and January 28, 2021, inclusive (the Class Period). The lawsuit seeks to recover damages for iRhythm investors under the federal securities laws.

The Complaint alleges that alleges that throughout the Class Period and in violation of the Exchange Act, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts to investors. Specifically, Defendants misrepresented and/or failed to disclose to investors that: (i) iRhythms business would suffer as a result of the CMS rulemaking; (ii) reimbursement rates would in fact plummet; (iii) a lack of national pricing in the CMS rule and fee schedule would cause uncertainty and weakness in the Companys business; and (iv) as a result of the foregoing, defendants public statements were materially false and misleading at all relevant times.

Investors who purchased or otherwise acquired shares of iRhythm during the Class Period should contact the Firm prior to the April 2, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.