NEW YORK, Nov. 18, 2019 (GLOBE NEWSWIRE) -- Levi & Korsinsky reminds investors that it has commenced an investigation of iRhythm Technologies, Inc. (NASDAQGS: IRTC) concerning possible violations of federal securities laws.

On March 13, 2019, Kerrisdale Capital issued a report alleging that “at the core of iRhythm’s revenue base is an exceedingly generous, but increasingly fragile, reimbursement regime.” Then on March 27, 2019, Washington Analysis LLC issued a report estimating that the Company could face a 45%-65% reimbursement cut for its Zio XT Patch. Following this news, shares of iRhythm fell from a close of $87.34 on march 13, 2019, to close at $74.96 on March 29, 2019.

On November 13, 2019, iRhythm disclosed its inability to file its quarterly report in a timely manner, citing accounting errors affecting prior periods that may result in correction of previously issued annual and quarterly financial statements.

On this news, iRhythm’s stock price fell over 6%. To obtain additional information, go to:

https://www.zlk.com/pslra-1/irhythm-technologies-inc-loss-form

or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972.

Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:   
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171
www.zlk.com