Pomerantz Law Firm Files Class Action Against Nutex Health Over Securities Violations

Class Action Lawsuit Filed Against Nutex Health Inc.

Pomerantz LLP, a New York-based law firm well-known for its expertise in securities class action lawsuits, has announced that a class action lawsuit has been filed against Nutex Health Inc. (NASDAQ: NUTX) along with some of its top executives. The lawsuit, which is docketed under 25-cv-03999, has been filed in the United States District Court for the Southern District of Texas. This class action seeks to represent all individuals and entities that purchased or acquired Nutex securities during the period from August 8, 2024, to August 14, 2025. The lawsuit aims to recover damages resulting from alleged violations of federal securities laws committed by Nutex and its officers.

Background of Nutex Health Inc.

Nutex Health is a healthcare services provider that operates a network of out-of-network hospital facilities across the United States. Established by a reverse merger in April 2022, the company has grown rapidly and operates through multiple divisions: a hospital division, a population health management division, and a real estate division. It primarily generates revenue through contracts with patients and third-party payors, with over 90% of its net patient service revenue coming from these sources.

Prior to the implementation of the No Surprises Act (NSA) in January 2022, patients receiving out-of-network care faced higher out-of-pocket costs due to balance billing practices. The NSA aimed to protect patients from surprise billing by mandating that out-of-network claims be covered at in-network rates. This law significantly affected Nutex's revenue model, leading to a noticeable decline in payments from insurers, as the company reported a roughly 30% decrease in payments for emergency services following the implementation of the NSA.

The Allegations of Misconduct

The class action alleges that during the defined Class Period, the defendants made materially false and misleading statements regarding Nutex's business operations and financial health. Specifically, the lawsuit claims that Nutex overstated its ability to recover from the revenue losses caused by the NSA through its arbitration strategy and misrepresented the success of its partnership with HaloMD, a third-party IDR vendor.

In a March 2025 earnings announcement, Nutex claimed that its revenue had significantly increased due to successful arbitration outcomes with insurance companies, totaling approximately $169.7 million in additional revenue compared to the previous year. However, the complaint contends that these results were achieved through fraudulent schemes against insurance companies facilitated by HaloMD. Furthermore, it raises concerns about Nutex's internal controls over financial reporting, which the company admitted had material weaknesses.

Critically, the lawsuit poses that Nutex provided misleading information regarding the sustainability of its revenue growth linked to the arbitration process, which is now under scrutiny due to allegations of fraud against HaloMD.

Recent Developments and Stock Impact

In July 2025, Blue Orca Capital released a report alleging that violations by HaloMD could result in legal repercussions against Nutex, suggesting that the company's relationship with HaloMD was a significant component of its recent revenue strategy. Following the release of this report, Nutex's stock experienced a notable decline, further amplifying investor concerns about the stability and transparency of its financial practices.

Nutex's responses to these allegations have been met with skepticism. The firm's stock price dropped 16% in August 2025 after Nutex announced a delay in filing its quarterly earnings report, attributing the delay to unresolved accounting issues related to stock-based compensation.

Investor Call to Action

Investors who bought Nutex securities during the Class Period are encouraged to act quickly. They have until October 21, 2025, to request the court to appoint them as Lead Plaintiff in this class action. Details regarding the lawsuit and a copy of the Complaint are available through Pomerantz LLP's website.

Conclusion

The unfolding case against Nutex Health underscores the complexities of healthcare billing practices and raises pivotal questions about transparency in financial reporting within the healthcare sector. As litigation proceeds, affected investors will be watching closely to see how these allegations impact Nutex's future prospects and overall compliance with federal securities laws.