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
11/26/2021
Initial Lawsuit
02/09/2022
Lawsuit Progression
05/09/2022
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 Fennec securities between May 28, 2021 and November 26, 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) Fennec had not successfully remediated, and overstated its efforts to remediate, issues with the manufacturing facility of its drug product manufacturer for PEDMARK;
(ii) as a result, the FDA was unlikely to approve the Resubmitted Pedmark NDA;
(iii) accordingly, the regulatory and commercial prospects of the Resubmitted Pedmark NDA were overstated; and
(iv) as a result, the company’s public statements were materially false and misleading at all relevant times.
Whether directors and officers of Inari Medical, Inc. (NARI) breached their fiduciary duties to the company and its shareholders.
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