#USA #Class Action #Zynex #Colorado #Hagens Berman

Zynex Investors: A Critical Alert Ahead of the Upcoming Deadline

Investors in Zynex, Inc., a company previously listed on NASDAQ under the ticker symbol 'ZYXI', are facing a tumultuous time following recent developments. The national shareholder rights law firm, Hagens Berman, has issued a notification regarding a securities class action lawsuit aimed at the company's former executives. Currently, Zynex’s stock is being traded over the counter under 'ZYXIQ' after its suspension on December 24, 2025.

Overview of the Lawsuit

The lawsuit, known as Beidel v. Thomas Sandgaard, et al., has been filed in the U.S. District Court for the District of Colorado. The primary purpose of this litigation is to seek compensation for individuals and entities who bought or acquired Zynex securities between February 25, 2021, and December 15, 2025. If you qualify, the deadline to apply as a Lead Plaintiff is rapidly approaching on April 21, 2026.

Allegations Against Zynex

According to Hagens Berman, Zynex allegedly engaged in deceptive practices by reporting what they termed as 'record growth', while purportedly exploiting a fraudulent scheme to ship excessive and medically unnecessary supplies—particularly electrode pairs—to unwitting patients. Such tactics contributed to substantial financial losses for investors.

Reports indicate that Zynex was recently implicated in an 'oversupplying scheme,' leading to a staggering forfeiture of $85 million to the Tricare military health program. Moreover, this malpractice has triggered criminal charges against the company's former management, effectively marking a significant downturn for Zynex.

Key Points from the Complaint

• - Systemic Overbilling: The lawsuit asserts that for many patients, up to 128 electrode pairs per month were shipped, which far exceeded medical requirements. This inflated the company's billing to both government and private insurers.
• - Tricare Suspension: In March 2025, Zynex announced that Tricare, which accounted for 25% of its revenue, had halted payments, particularly after discovering irregular billing practices.
• - Criminal Indictments: Former executives Thomas Sandgaard (CEO) and Anna Lucsok (COO) have faced indictments for healthcare and securities fraud, leading to their immediate dismissal from the company.
• - Bankruptcy: As investigations unfolded, Zynex had to file for Chapter 11 bankruptcy and faced delisting from the Nasdaq exchange due to the loss of investor confidence and a plummet in share values.

Actions for Investors

Current and former investors are strongly encouraged to connect with Hagens Berman to discuss their rights and prepare for potential recovery. The legal team emphasizes the necessity of acting swiftly given the impending April 21 deadline.

For those affected, it’s crucial to examine the detailed complaint and consider filing as a Lead Plaintiff. More information and resources can be accessed on the Hagens Berman Zynex case page.

Whistleblower Information

Individuals possessing non-public details about Zynex may also wish to come forward. Through the SEC Whistleblower program, it’s possible to earn rewards for valuable information—up to 30% of any successful recovery.

Conclusion

The circumstances surrounding Zynex have changed rapidly, leaving many investors seeking guidance and potential recovery from their combined losses. Hagens Berman is at the forefront of navigating this complex situation, offering resources and support for affected parties. Investing in understanding your legal rights has never been more critical, especially as the clock ticks closer to the April 21 deadline.

Learn more about this pressing issue, and stay informed about developments in the ongoing Zynex litigation.