Investigation
Inari Medical, Inc. (NARI)
Whether directors and officers of Inari Medical, Inc. (NARI) breached their fiduciary duties to the company and its shareholders.
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Investigation
12/14/2021
Initial Lawsuit
02/28/2022
Lawsuit Progression
04/29/2022
This is a federal securities class action on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired:
(a) Cabaletta common stock pursuant and/or traceable to the offering documents issued in connection with the company’s initial public offering (IPO) conducted on or about October 24, 2019; and/or
(b) Cabaletta securities between October 24, 2019 and December 13, 2021,both dates inclusive.
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(i) top-line data of the Phase 1 Clinical Trial indicated that DSG3-CAART had, among other things, worsened certain participants’ disease activity scores and necessitated additional systemic medication to improve disease activity after DSG3-CAARTinfusion;
(ii) accordingly, DSG3-CAART was not as effective as the Company had represented to investors;
(iii) therefore, the company had overstated DSG3-CAART’s clinical and/or commercial prospects; and
(iv) as a result, the company’s public statements were materially false and misleading at all relevant times.
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