6 FREQUENTLY ASKED QUESTIONS IN THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT

6 frequently asked queSTIONS in the INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT

1/10/2024

If you suffered losses in Inspire Medical Systems stock, contact Inspire Medical Systems stock loss lawyer Timothy L. Miles today

INTRODUCTION TO THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT

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The Inspire Medical Systems class action lawsuit seeks to represent purchasers of Inspire Medical Systems, Inc. (NYSE: INSP) common stock between May 3, 2023 and November 7, 2023, inclusive (the “Class Period”). Captioned City of Hollywood Firefighters’ Pension Fund v. Inspire Medical Systems, Inc., No. 23-cv-03884 (D. Minn.), the Inspire Medical Systems class action lawsuit charges Inspire Medical Systems and certain of its top executive officers with violations of the Securities Exchange Act of 1934.

If you suffered losses in Inspire Medical Systems stock and wish to serve as lead plaintiff in the Inspire Medical Systems class action lawsuit, or just have general questions about your rights as a shareholder, please contact Inspire Medical Systems Stock Loss Lawyer Timothy L. Miles at no charge by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form.

Lead plaintiff motions for the Inspire Medical Systems class action lawsuit must be filed with the court no later than February 20, 2024.

Read on to learn answers to six frequently asked questions in the Inspire Medical Systems class action lawsuit.

WHAT ARE THE ALLEGATIONS IN THE ASSERTIO CLASS ACTION LAWSUIT?

Inspire Medical Systems offers the only obstructive sleep apnea (“OSA”) device that has been approved by the Food and Drug Administration (“FDA”) for treatment of the root cause of sleep apnea by working inside the body with the patient’s natural breathing process. Inspire Medical Systems calls the treatment “Inspire therapy.” For patients to receive insurance coverage for Inspire therapy, they are required to visit a doctor to secure prior authorization. Inspire Medical Systems maintains an Advisor Care Program team to assist with this process, including the scheduling of appointments, which was historically handled through telephone calls with physician offices. In 2022, Inspire Medical Systems introduced a pilot program (the “Acceleration Program”), through which Inspire Medical Systems’ Advisor Care Program team with the customer on the phone would directly access doctors’ electronic schedules and schedule doctor appointments online, without the need for phone calls.

The Inspire Medical Systems offers the only obstructive sleep apnea (“OSA”) device that has been approved by the Food and Drug Administration (“FDA”) for treatment of the root cause of sleep apnea by working inside the body with the patient’s natural breathing process. Inspire Medical Systems calls the treatment “Inspire therapy.” For patients to receive insurance coverage for Inspire therapy, they are required to visit a doctor to secure prior authorization. Inspire Medical Systems maintains an Advisor Care Program team to assist with this process, including the scheduling of appointments, which was historically handled through telephone calls with physician offices. In 2022, Inspire Medical Systems introduced a pilot program (the “Acceleration Program”), through which Inspire Medical Systems’ Advisor Care Program team with the customer on the phone would directly access doctors’ electronic schedules and schedule doctor appointments online, without the need for phone calls.

The Inspire Medical Systems class action lawsuit alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose problems with the Acceleration Program, including a decrease in the number of prior authorization submissions for Inspire therapy.

The Inspire Medical Systems class action lawsuit alleges that investors learned the truth on November 7, 2023 when Inspire Medical Systems announced disappointing earnings results for the third quarter of 2023, its first reported revenue miss since becoming a public company in 2018. Specifically, the Inspire Medical Systems class action lawsuit further alleges that the company 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 news, the price of Inspire Medical Systems’ stock fell by nearly 20%, according to the complaint. alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose problems with the Acceleration Program, including a decrease in the number of prior authorization submissions for Inspire therapy.

The Inspire Medical Systems class action lawsuit alleges that investors learned the truth on November 7, 2023 when Inspire Medical Systems announced disappointing earnings results for the third quarter of 2023, its first reported revenue miss since becoming a public company in 2018. Specifically, the Inspire Medical Systems class action lawsuit further alleges that the company 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 news, the price of Inspire Medical Systems’ stock fell by nearly 20%, according to the complaint.

WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT?

First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the Inspire Medical Systems class action lawsuit and file your own separate lawsuit. Note, that if you opt out, you will not be able to participate in any settlement or recovery obtained in the Inspire Medical Systems class action lawsuit.

WHAT IS THE LEAD PLAINTIFF PROCESS IN THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT?

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Inspire Medical Systems stock to seek appointment as lead plaintiff in the Inspire Medical Systems class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.

A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Inspire Medical Systems stock and have further questions, contact Inspire Medical Systems stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a Inspire Medical Systems class action lawsuit.

CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE INSPIRE MEDICAL SYSTEMS LAWSUIT IF THEY SUFFERED LOSSES IN INSPIRE MEDICAL SYSTEMS STOCK?

Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Inspire Medical Systems, they may move the Court to be appointed lead plaintiff in the Inspire Medical Systems lawsuit.

CAN I BE APPOINTED LEAD PLAINTIFF IN THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?

No. Even if you suffered losses in Inspire Medical Systems stock, if you purchased securities outside of the Class period, you will not be able to participate in the Inspire Medical Systems class action lawsuit.

WILL THE LEAD PLAINTIFFS GET MORE MONEY THAN CLASS MEMBERS IF THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT SETTLES?

No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the Inspire Medical Systems class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Inspire Medical Systems class action lawsuit on behalf of investors who suffered losses in Inspire Medical Systems stock.

CONTACT AN INSPIRE MEDICAL SYSTEMS STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN INSPIRE MEDICAL SYSTEMS STOCK ABOUT AN INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT

If you suffered losses in Inspire Medical Systems stock, contact Inspire Medical Systems stock loss lawyer Timothy L. Miles today for a free case evaluation about an Inspire Medical Systems class action lawsuit. Call today and see what an Inspire Medical Systems stock loss lawyer could do for you if you suffered losses in Inspire Medical Systems stock. The call is free and so is the fee unless we will or settle your case.

Inspire Medical Systems stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); Americas Most Honored Lawyers 2020 â€“ Top 1% by America's Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.

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The Law Offices of Timothy L. Miles
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300 Centerview Dr., #247
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Phone: (855) 846-6529