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
05/17/2021
Initial Lawsuit
05/17/2021
Lawsuit Progression
07/16/2021
Plaintiff brings this federal securities class action on behalf of a class consisting of all persons and entities, other than Defendants and their affiliates, who purchased ContextLogic Inc. securities between December 16, 2020 to May 12, 2021, 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:
(1) the “differentiated user experience,” ContextLogic repeatedly credited as driving the wide-adoption of the Wish platform by customers who are offered access to high-quality merchants, selling affordable, high-quality products, and merchants who are offered reliable logistical services;
(2) the Company’s sales and marketing engine, which ContextLogic said it would “continue to invest in” and that purportedly serves as a competitive advantage in attracting new users and increasing user engagement on the Wish platform;
(3) the Company’s monthly active user (MAU) growth, which it considered “a key indicator of user engagement and awareness of[its] brand.”
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Confidential investigation: officers & directors’ potential breach of fiduciary duties to investors.