Inari Medical, Inc. (NARI) Downgraded by Analysts Due to Pending DOJ Probe – Hagens Berman

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages NARI Investors with Substantial Losses Encouraged to Contact Firm

/EIN News/ -- SAN FRANCISCO, April 18, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Inari Medical, Inc. (NASDAQ: NARI) investors who suffered substantial losses to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/nari
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Inari Medical, Inc. (NARI) Investigation:

Last month, Inari Medical spooked analysts after the medical device company revealed it was being investigated by the DOJ over certain payments to healthcare professionals and warned that “[d]epending on the outcome of the Investigation, there may be a material impact on our business, results of operations, or financial condition.”

Scrutinizing the disclosure, Piper Sandler wrote in a Feb. 29, 2024 report, “NARI disclosed on the EPS call that in December 2023, the company received a civil investigative demand from the U.S. DOJ requesting information primarily related to meals and consulting service payments provided to health care professionals. We anticipate some investor consternation around this topic, which may present an overhang on share.”

In turn, Piper Sandler downgraded NARI to neutral and lowered its price target for the stock to $55 from $85, stating that U.S. core concerns and the DOJ investigation “push us to the sidelines.”

Likewise, in a Feb. 29, 2024 report, Jefferies lowered its price target of NARI to $80 from $91.00, noting that the company expects the DOJ investigation “could take years to resolve.”

In addition to eliciting negative analyst commentary, Inari’s disclosure has prompted prominent investor rights firm Hagens Berman to open an investigation into the company’s potential violation of the U.S. securities laws.

After the company revealed the DOJ investigation, NARI shares immediately declined 20% over a single trading day, thereby injuring NARI investors.

“We are investigating whether Inari may have misled investors by claiming its revenue growth was due to organic factors, while failing to disclose it potentially had engaged in sales practices in violation of applicable kickback laws,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Inari and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Inari investigation, read more »

Whistleblowers: Persons with non-public information regarding Inari should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email NARI@hbsslaw.com.

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw. 

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Contact:
Reed Kathrein, 844-916-0895