Press release
Investors who lost money with shares of Inspire Medical Systems, Inc. (NYSE: INSP) should contact the Shareholders Foundation in connection with pending Lawsuit
A lawsuit was filed on behalf of investors in Inspire Medical Systems, Inc. (NYSE: INSP) shares.
Investors who purchased shares of Inspire Medical Systems, Inc. (NYSE: INSP) have certain options and for certain investors are short and strict deadlines running. Deadline: February 20, 2024. NYSE: INSP investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
Golden Valley, MN based Inspire Medical Systems, Inc., a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally.
Inspire Medical Systems, Inc. offers the only OSA device that has been approved by the Food and Drug Administration ("FDA") for treatment of the root cause of sleep apnea by working inside the body with the patient's natural breathing process. The Company calls the treatment, which includes an implantable device, "Inspire therapy."
On November 7, 2023, Inspire Medical Systems, Inc. announced its earnings results for the third quarter of 2023 - its first reported revenue miss since becoming a public company in 2018.
Inspire Medical Systems, Inc. stated it had started to "track" problems with its Acceleration Program in the second quarter of 2023, including a decrease in the number of prior authorization submissions for Inspire therapy, and "recogniz[ed] this trend early in the third quarter" - i.e., as early as July 1, 2023.
Shares of Inspire Medical Systems, Inc. (NYSE: INSP) declined from $330.00 per share on July 14, 2023, to as low as $123.27 per share on November 13, 2023.
The plaintiff claims that between May 3, 2023 and November 7, 2023, the Defendants misled investors and/or failed to disclose that despite the Acceleration Program, customers were encountering challenges with the prior authorization submission process, including with the scheduling of appointments, that a slowdown in prior authorization submissions arising from these challenges led to a shortfall of hundreds of procedures to implant the Company's OSA device, and that as a result, Defendants' positive statements about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Inspire Medical Systems, Inc. (NYSE: INSP) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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