Kessler Topaz Meltzer & Check, LLP Reminds Investors of Deadline for Securities Fraud Class Action Lawsuit Filed Against iRhythm Technologies, Inc.

The law firm of Kessler Topaz Meltzer & Check, LLP reminds that an investor securities fraud class action lawsuit has been filed against iRhythm Technologies, Inc. (NASDAQ: IRTC) (“iRhythm”) on behalf of those who purchased or acquired iRhythm common stock between August 4, 2020 and January 28, 2021, inclusive (the “Class Period”).

Deadline Reminder: Investors who purchased or acquired iRhythm common stock during the Class Period may, no later than April 2, 2021, seek to be appointed as a lead plaintiff representative of the class. For additional information or to learn how to participate in this litigation please contact Kessler Topaz Meltzer & Check, LLP: James Maro, Esq. [phone] or Adrienne Bell, Esq. [phone]; toll free at [phone]; via e-mail at [e-mail]; or click https://www.ktmc.com/irhythm-technologies-inc-securities-class-action? ...

According to the complaint, iRhythm is a digital healthcare company that offers a portfolio of ambulatory cardiac monitoring services on its platform called the Zio service. iRhythm receives revenue for its Zio service primarily from third-party payors, which includes commercial payors and government agencies, such as the U.S. Centers for Medicare and Medicaid Services (“CMS”). On August 3, 2020, the CMS issued its Calendar Year 2021 Medicare Physician Fee Schedule Proposed Rule, which would update payment policies, payment rates, and other provisions for services to be furnished under the Medicare Physician Fee Schedule on or after January 1, 2021.

The Class Period begins on August 4, 2020, when iRhythm held a conference call with analysts to discuss the CMS proposed rule. During this call, Kevin M. King (“King”), then President and CEO of iRhythm, discussed at length how iRhythm “worked hand-in-hand with the various governing bodies . . . in drafting and constructing” the language used in the CMS’s proposed rule, and that iRhythm was “well aware and well informed” of the proposed CMS rules. King praised the impact the proposed rule would have on iRhythm’s business and revenues, stating that “[i]f we were to apply the new codes and proposed rates, our 2019 revenues would increase slightly,” and that “our total business will be up slightly overall.”