iRhythm Technologies Inc. agreed to shell out $45 million to resolve investor allegations the digital healthcare company overhyped the accuracy and timeliness of its heart monitoring device.
The pension fund leading the case sought preliminary approval of the deal Thursday for a settlement class of investors who got iRhythm stock from July 25, 2022, to Aug. 9, 2024. If approved by the US District Court for the Northern District of California, the agreement under which iRhythm and CEO Quentin Blackford denied wrongdoing would end more than two years of litigation over statements about iRhythm’s Zio AT device.
- The pension fund ...
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