NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons and entities who purchased securities of Inari Medical, Inc. (“Inari” or the “Company”) (NASDAQ: NARI) between February 24, 2022 and February 28, 2024, inclusive (the “Class Period”).

The Complaint in the lawsuit alleges that defendants throughout the Class Period touted Inari’s “record revenue,” purportedly driven by “the strength in our core [venous thromboembolism] (“VTE”) business.” The Complaint further alleges that defendants failed to disclose that a significant portion of its expenses were used to compensate medical professionals improperly for using Inari’s products. Additionally, the Complaint alleges that in truth, while defendants were speaking positively about Inari Medical’s growth prospects, Inari had been engaging in illegal business practices. The Complaint alleges that Inari had been unlawfully compensating health care professionals in violation of the federal Anti-Kickback Statute and Civil False Claims Act. The Complaint further alleges that defendants also misled investors regarding business expenses in order to conceal their illicit conduct. The Complaint also alleges that when the true details entered the market, Inari investors suffered damages.

Investors who purchased or otherwise acquired shares of Inari should contact the Firm prior to the July 12, 2024 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 [email protected] or [email protected].

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