iRhythm Lawsuit Investigation

iRhythm announces late Q3 filing and admits to more errors; Stock plummets

Our firm is investigating possible legal claims on behalf of iRhythm investors. On November 13, 2019, shares of iRhythm Technologies, Inc. (NASDAQ: IRTC) fell sharply after the company filed a Notification of Late Filing with the Securities and Exchange Commission (SEC) and revealed that while in the process of investigating previously-identified errors, it discovered additional errors affecting prior periods.  The company stated that the newly-found errors may require them to correct previously-issued financial statements.

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iRhythm Stock News: IRTC Notification of Late Filing & More Errors; Share Price Plummets

On November 13, 2019, iRhythm filed a Notification of Late Filing with the SEC, stating that it will not file its Quarterly Report for the period ending on September 30, 2019 by the deadline. According to the Notification:

As part of the Company’s efforts to remediate its previously disclosed material weaknesses, the Company identified errors affecting prior periods in the course of preparing the Form 10-Q that require further analysis.  These errors may result in the correction of previously issued annual and quarterly financial statements.

The company further stated:

In addition, the error evaluation will include the assessment of any additional control deficiencies.

On this news, iRhythm’s share price dropped, significantly harming investors. Our firm is investigating whether iRhythm Inc. and certain of its officers and/or directors have violated federal securities laws.

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