Inari Medical, Inc. (NARI) Plummets on News of DOJ Investigation – Hagens Berman
Inari Medical shares recently tumbled after the commercial-stage medical device company disclosed it was being investigated by the DOJ over certain payments to healthcare professionals.
- Inari Medical shares recently tumbled after the commercial-stage medical device company disclosed it was being investigated by the DOJ over certain payments to healthcare professionals.
- But on Feb. 29, 2024, the true drivers of Inari’s revenue growth came into question, when Inari revealed that federal regulators had initiated an investigation into its payments to Health Care Professionals (“HCPs”) sometime during Dec. 2023.
- This news sent the price of Inari shares crashing $12.14, or down about 21%, on Feb. 29, 2024.
- “We are investigating the propriety of Inari’s touted revenue growth and repeated claims that its strategy had positioned it for sustained operating profitability by the first half of 2025,” said Reed Kathrein, the Hagens Berman partner leading the investigation.