Investigation by Former Attorney General Into iRhythm Technologies Officers Continues

Continuing Investigation into iRhythm Technologies

The scrutiny on iRhythm Technologies, Inc. has intensified as a comprehensive investigation is being led by Charles C. Foti, Jr., former Attorney General of Louisiana and partner at Kahn Swick & Foti, LLC (KSF). This inquiry stems from serious concerns regarding the company's compliance with medical device regulations, particularly related to its flagship product, the Zio AT System. The FDA's warning letter received by iRhythm on May 30, 2023, cited significant non-conformities within their medical device quality systems. Specifically, the warning addressed reporting requirements and deficiencies that may have posed undisclosed risks to patients, including potential limitations regarding the transmission of arrhythmia events.

Following the revelations from the FDA, a securities class action lawsuit was instigated against iRhythm and several of its executives. The lawsuit accuses them of failing to disclose critical information to shareholders during the Class Period, constituting a breach of federal securities laws. Recent court proceedings had a significant outcome when a motion to dismiss the case was denied, thereby allowing the investigation and potential litigation to proceed.

The focus of KSF's investigation centers on the actions of the company's officers and directors to determine if there has been a breach of fiduciary duties owed to shareholders or violations of pertinent state and federal laws. As the investigation unfolds, KSF is keen to hear from anyone who might have pertinent information that could shed light on the situation or from long-term holders of iRhythm shares seeking clarity on their legal rights.

If you find yourself in a position to contribute to this inquiry or wish to discuss your options without any obligation, KSF encourages you to reach out. Interested parties can contact the firm toll-free at 1-833-938-0905 or email Lewis Kahn, Managing Partner at KSF, at email protected] Furthermore, additional information about the ongoing case can be found at [https://www.ksfcounsel.com/cases/nasdaqgs-irtc/.

About Kahn Swick & Foti, LLC

Kahn Swick & Foti, LLC stands as one of the premier boutique securities litigation law firms in the country, with a recognition established through its substantial contributions to settling cases of corporate mismanagement. Led by notable figures such as former Louisiana Attorney General, Charles C. Foti, Jr., the firm has garnered accolades, including a ranking in the top ten nationwide based on settlement value according to SCAS. KSF advocates for various clients including institutional investors and individuals, helping them recover losses stemming from corporate malfeasance. With offices in several key locations including New York, California, and New Orleans, the firm is well-equipped to assist clients through complex legal challenges.

In light of these issues surrounding iRhythm Technologies, ongoing monitoring and investigation by KSF may pave the way for accountability within the organization and deliver justice for those affected by possible oversight and misconduct.