Investor Alert: Robbins LLP Informs Investors of the Zynex, Inc. Class Action Lawsuit
Investor Alert: Robbins LLP Informs Investors of the Zynex, Inc. Class Action Lawsuit |
| [21-March-2025] |
SAN DIEGO, March 21, 2025 /PRNewswire/ -- Robbins LLP informs stockholders that a class action was filed on behalf of persons and entities that purchased or otherwise acquired Zynex, Inc. (NASDAQ: ZYXI) securities between March 13, 2023 to March 11, 2025. Zynex is a medical device manufacturer that produces and markets electrotherapy devices for use in pain management and physical rehabilitation.
For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003. The Allegations: Robbins LLP is Investigating Allegations that Zynex, Inc. (ZYXI) Inflated its Revenue and Filed False Claims According to the complaint, during the class period, defendants failed to disclose to investors: (1) that Zynex shipped products, including electrodes, in excess of need; (2) that, as a result of this practice, the Company inflated its revenue; (3) that the Company's practice of filing false claims drew scrutiny from insurers, including Tricare; and (4) that, as a result, it was reasonably likely that Zynex would face adverse consequences, including removal from insurer networks and penalties from the federal government. On March 11, 2025, Zynex reported its fourth quarter and full year 2024 financial results, revealing a significant revenue "shortfall" in the quarter "due to slower than normal payments from certain payers." Zynex further revealed "Tricare has temporarily suspended payments as they review prior claims." Tricare is the health insurance program for the U.S. military. On this news, Zynex's stock price fell $3.59 per share, or 51.3%, to close at $3.41 per share on March 12, 2025. What Now: You may be eligible to participate in the class action against Zynex, Inc. Shareholders who want to serve as lead plaintiff for the class must file their papers with the court by May 19, 2025. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here. All representation is on a contingency fee basis. Shareholders pay no fees or expenses. About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002. To be notified if a class action against Zynex, Inc. or to receive free alerts when corporate executives engage in wrongdoing, sign up for Stock Watch today. Attorney Advertising. Past results do not guarantee a similar outcome.
SOURCE Robbins LLP | ||
Company Codes: NASDAQ-NMS:ZYXI |
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