Inari Medical Seeks Dismissal of Investor Lawsuit Over Alleged Improper Payments

Inari Medical Inc. and several of its former executives are mounting a vigorous defense against a class action lawsuit filed by investors. The plaintiffs allege that illicit payments to physicians artificially inflated the company’s sales performance. The defendants formally submitted a motion to dismiss the case yesterday.

The legal challenge stems from a past investigation concerning compliance with US Anti-Kickback laws, an event that previously negatively impacted the company’s share price. The lawsuit accuses the medical device firm of manipulating its financial results and product sales through what it describes as “bribes and other improper and illegal payments to healthcare providers.”

Central to the defense’s motion to dismiss is the argument that the lawsuit lacks the requisite specificity to substantiate claims of statutory Read more...