Inari Medical, Inc. (NASDAQ:NARI)NEW YORK, NY, USA, June 28, 2024 /EINPresswire.com/ — National investment loss and securities attorneys KlaymanToskes has launched an investigation into brokerage firms and financial advisors who unsuitably recommended investments in Inari Medical, Inc. (NASDAQ: NARI) to their customers, following concerns surrounding the company’s financial performance and allegations of materially misleading statements resulting in investor losses. Investors who suffered losses of $250,000 or more as a result of a recommendation by their broker/investment advisor should contact the firm immediately at 888-997-9956. Investors with self-directed accounts who did not rely on the advice of a financial advisor are not eligible for our representation.
KlaymanToskes is investigating brokerage firms that recommended positions in Inari Medical, Inc. and misrepresented or failed to disclose known risks to investors. On February 29, 2024, Inari announced that it had received a civil investigative demand from the U.S. Department of Justice in connection with an investigation under the federal Anti-Kickback Statute and Civil False Claims Act. On this news, Inari’s stock price fell by $12.14 per share, representing a 20.8% decline, thereby injuring investors.
In the past year NARI’s price per share has fallen by 33%. Prior to this, Inari Medical, Inc. traded as high as $118.69 per share, and is currently trading at $48.57 per share, representing a tremendous decline of 59%. Brokerage firms that recommended large, concentrated or margined positions in NARI may be liable for investor losses. Investment portfolios holding large concentrated stock positions carry significant downside risks. Additionally, brokerage firms have a responsibility to provide customers with risk management strategies for large, concentrated, and margined positions.
According to a class action complaint filed against Inari Medical, Inc. (Case No. 24-cv-03686), the company made public statements that were false and materially misleading, and failed to disclose material adverse facts about the success of its product sales, which were purportedly inflated by bribes and other improper and illegal payments to healthcare providers.
Investors should know that class-actions may take many years to resolve, and that payouts are generally heavily undervalued. KlaymanToskes previously conducted a detailed study of securities arbitration versus class action and concluded that Financial Industry Regulatory Authority (FINRA) arbitration claims traditionally obtain an overall higher rate of recovery as opposed to participating in a class action lawsuit.
Accordingly, investors should consider all their legal options, including filing a securities arbitration claim with the Financial Industry Regulatory Authority (FINRA), against the brokerage firm who recommended the purchase. A FINRA arbitration claim may result in a greater and additional recovery.
Investors that suffered losses in excess of $250,000 should immediately contact attorney Steven D. Toskes at (888) 997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com