Inspire Medical Systems, Inc.
Exchange: NASDAQ
Ticker: INSP
Date of Filing: 12/19/2023
Court: District of Minnesota
Filing Deadline

02/20/2024

TWERSKY LAW GROUP Notifies Inspire Medical Systems, Inc. (INSP) Investors of Class Action

Inspire Medical  – Twersky Law Group, a highly regarded and reputable law firm based in New York, wishes to inform investors about a significant development in the form of a class action lawsuit against Inspire Medical Systems, Inc. (“Inspire Medical Systems” or “the Company”) (NASDAQ: INSP) and certain officers of the company. This lawsuit has been filed on behalf of all individuals and entities that purchased or otherwise acquired Inspire Medical securities from May 3, 2023 through November 7, 2023 (the “Class Period”). Investors who acquired Inspire Medical securities during this defined timeframe are strongly encouraged to participate in this case by contacting atara@twerskylawgroup.com. The deadline to file a motion for appointment of lead plaintiff is February 20, 2024.

The fundamental objective of this class action lawsuit is to recover for the benefit of investors who purchased Inspire Medical securities during the Class Period, the losses they sustained as a consequence of the misleading statements made by Defendants in violation of the federal securities laws.

 

ALLEGATIONS AGAINST INSPIRE MEDICAL

The Class Action alleges that, during the Class Period, Defendants misled investors and/or failed to disclose that: (1) despite the Acceleration Program, customers were encountering challenges with the prior authorization submission process, including with the scheduling of appointments; (2) a slowdown in prior authorization submissions arising from these challenges led to a shortfall of hundreds of procedures to implant the Companys OSA device; and (3) as a result, Defendants positive statements about the Companys financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. The truth emerged after the close of markets on November 7, 2023, when the Company announced disappointing earnings results for the third quarter of 2023, including a decline in prior authorization submissions for patients seeking Inspire therapy. Inspire Medical further admitted it had started to track problems with the Acceleration Program no later than the second quarter of 2023, the Company had strong confirmation of the problems with the Acceleration Program, and the Company realized we needed to take some corrective action. In response to this news, shares of Inspire Medical declined approximately 20%, from a closing price of $161.74 per share on November 7, 2023, to a closing price of $129.95 per share on November 8, 2023.

 

ABOUT INSPIRE MEDICAL

  • Inspire Cares Medical Group provides telehealth services across the country.

 

JOIN THIS CASE

It is important to note that a class action lawsuit has already been filed in connection with these allegations. Therefore, for those individuals who suffered financial losses in their investments in Inspire Medical during the Class Period, there is a limited opportunity to seek appointment as a lead plaintiff. This process entails requesting the Court to designate them as the primary representative on behalf of the entire class. The deadline for submitting such a request is February 20, 2024. It is important to emphasize that while becoming a lead plaintiff can offer certain advantages, participation in the recovery process and the potential for financial compensation does not mandate serving as a lead plaintiff.

Twersky Law Group, a distinguished legal firm renowned for its attorneys expertise in handling securities fraud class actions and shareholder derivative suits, who have a long-standing track record of successfully recovering significant sums of money for investors nationwide. With an unwavering commitment to seeking justice for their clients, the firm’s attorneys are resolute in pursuing fair compensation on behalf of those affected by alleged securities law violations. As with any legal matter, it is essential to understand that this announcement constitutes attorney advertising. Past case outcomes and results achieved do not guarantee similar outcomes in this particular case.



DOCUMENTS


COMPLAINT

PLEASE READ THE COMPLAINT  DOCUMENT BEFORE SIGNING UP FOR THIS CASE.

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