NEW YORK, Dec. 26, 2023 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP:
- Do you, or did you, own shares of Inspire Medical Systems, Inc. (NYSE: INSP)?
- Did you purchase your shares between May 3, 2023 and November 7, 2023, inclusive?
- Did you lose money in your investment in Inspire Medical Systems, Inc.?
- Do you want to discuss your rights?
Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the common stock of Inspire Medical Systems, Inc. (“Inspire Medical” or the “Company”) (NYSE: INSP) between May 3, 2023 and November 7, 2023, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the District of Minnesota and alleges violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased or acquired Inspire Medical common stock, and/or would like to discuss your legal rights and options please visit Inspire Medical Systems, Inc. Shareholder Class Action Lawsuit or contact paralegal Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
According to the Complaint, Inspire Medical is a medical technology company that develops and commercializes minimally invasive products for patients with obstructive sleep apnea (“OSA”). The Company 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, the Company announced disappointing earnings results for the third quarter of 2023 - its first reported revenue miss since becoming a public company in 2018. In a stunning admission, Inspire Medical 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.
On this news, the Company’s share price fell $31.79, or over 19%, to close at $129.65 per share on November 8, 2023.
If you wish to serve as lead plaintiff, you must move the Court no later than February 20, 2024. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased or acquired Inspire Medical common stock, and/or would like to discuss your legal rights and options please visit Inspire Medical Systems, Inc. Shareholder Class Action Lawsuit or contact paralegal Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for sixteen consecutive years.
ATTORNEY ADVERTISING. © 2023 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
Contact Information:
Peter Allocco
Paralegal
Bernstein Liebhard LLP
https://www.bernlieb.com
(212) 951-2030
pallocco@bernlieb.com
