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
05/10/2022
Initial Lawsuit
06/02/2022
Lawsuit Progression
08/01/2022
The City of Miami General Employees’ & Sanitation Employees’ Retirement Trust filed a securities class action lawsuit on behalf of all persons or entities that purchased Dentsply’s common stock between June 9, 2021 and May 9, 2022, 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) Defendants orchestrated a scheme to inflate the company’s revenue and earnings by manipulating the way in which Dentsply recognized revenue tied to certain distributor rebate and incentive programs;
(ii) Dentsply touted its “go-to market strategy” and “more sophisticated and strategic incentive plans” as drivers of the company’s success;
(ii) Dentsply also assured investors that it complied with Generally Accepted Accounting Principles (“GAAP”) and maintained adequate internal controls over financial reporting, yet the Company announced revenues and earnings that were inflated by the improper recognition of revenue.
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