Grabar Law Office Investigates Claims on Behalf of Shareholders of Inspire Medical Systems, Inc. (INSP)

Philadelphia, Pennsylvania--(Newsfile Corp. - December 27, 2023) - A recently filed securities fraud class action complaint alleges that Inspire Medical Systems, Inc. (NYSE: INSP), via certain of its officers and directors, misled investors and/or failed to disclose that: (1) despite the Company's Acceleration Program, customers were encountering challenges with the prior authorization submission process, including with the scheduling of appointments; (2) a slowdown in prior authorization submissions arising from these challenges led to a shortfall of hundreds of procedures to implant the Company's OSA device; and (3) as a result, Defendants' positive statements about the Company's financial guidance, business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

The complaint alleges that investors only learned the truth on November 7, 2023 when Inspire Medical Systems announced disappointing earnings results for the third quarter of 2023, and revealed that it had started to "track" problems with the Acceleration Program in the second quarter of 2023, including a decrease in the number of prior authorization submissions for Inspire therapy, and "recogniz[ed] this trend early in the third quarter," i.e., as early as July 1, 2023. On this revelation, the price of Inspire Medical Systems' stock fell by nearly 20%, according to the complaint.

Current Inspire Medical shareholders who have continuously held Inspire Medical shares since prior to May 3, 2023, can seek corporate reforms, the return of funds back to company coffers, and a court approved incentive award at no cost to them whatsoever.

If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/inspire-medical-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or Mia R. Heller at mheller@grabarlaw.com, or call 267-507-6085.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/192429