LEGAL GUIDES FOR INVESTORS
If you suffered losses in Inspire Medical Systems stock, call Inspire Medical Systems stock loss lawyer Timothy L. Miles for a free case evaluation
INTRODUCTION TO THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT
The Inspire Medical Systems class action lawsuit has garnered significant attention since its filing. This legal action seeks to represent purchasers or acquirers of Inspire Medical Systems, Inc. (NYSE: INSP) common stock between May 3, 2023 and November 7, 2023. The lawsuit alleges violations of the Securities Exchange Act of 1934 by Inspire Medical Systems and certain top executives. In this comprehensive guide, we will explore the allegations in the lawsuit, the lead plaintiff process, the benefits of serving as lead plaintiff, and how an Inspire Medical Systems stock loss lawyer can assist those who have suffered losses.
ALLEGATIONS IN THE INSPIRE MEDICAL SYSTEMS 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 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.
WHAT IS THE LEAD PLAINTIFF DEADLINE IN THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT?
When a securities class action is filed such as the Inspire Medical Systems class action lawsuit, the person who files the first complaint is required to publish a notice announcing the filing. Anyone who wants to be lead plaintiff on behalf of the class in the Inspire Medical Systems class action lawsuit lawsuit must thereafter file a motion to be appointed as lead plaintiff(s) no later than 60 days after the notice was published.
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.
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.
THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE INSPIRE MEDICAL SYSTEMS LAWSUIT
Serving as a Lead Plaintiff in the Inspire Medical Systems lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Inspire Medical Systems if you suffered losses in Inspire Medical Systems stock.
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.
HOW WAS THE CLASS PERIOD DETERMINED IN THE INSPIRE MEDICAL SYSTEMS LAWSUIT?
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
In order to be a part of the class in the Inspire Medical Systems lawsuit, you must have suffered losses in Inspire Medical Systems stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Inspire Medical Systems.
HOW CAN A INSPIRE MEDICAL SYSTEMS STOCK LOSS LAWYER HELP ME IF I SUFFERED LOSSES IN INSPIRE MEDICAL SYSTEMS STOCK?
An Inspire Medical Systems stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the Inspire Medical Systems lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct.
Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.
One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).
This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
HOW DO I KNOW IF I AM A MEMBER OF THE CLASS IN THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT?
If you purchased shares during the class period and suffered losses in Inspire Medical Systems stock, then you are most likely a member of the class in the Inspire Medical Systems class action lawsuit and may participate in the Inspire Medical Systems class action lawsuit since you suffered losses in Inspire Medical Systems stock.
IF I SUFFERED LOSSES IN INSPIRE MEDICAL SYSTEMS STOCK, HOW MUCH CAN I GET OUT OF THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT?
In a securities fraud class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in Inspire Medical Systems stock. Contact an Inspire Medical Systems stock loss lawyer who could explain your losses in greater detail and further discuss the Inspire Medical Systems class action lawsuit.
IF I SUFFERED LOSSES IN SUFFERED LOSSES IN INSPIRE MEDICAL SYSTEMS STOCK, WHEN CAN I EXPECT TO RECEIVE MY PAYMENT IF THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT SETTLES?
If there is a settlement in the Inspire Medical Systems class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement in the Inspire Medical Systems lawsuit. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Inspire Medical Systems stock during the class period and suffered losses in Inspire Medical Systems stock.
The court will hold a final hearing in the Inspire Medical Systems class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Inspire Medical Systems lawsuit.
WHAT IS THE DIFFERENCE BETWEEN OBJECTING AND EXCLUDING MYSELF IN THE INSPIRE MEDICAL SYSTEMS CLASS ACTION LAWSUIT?
Objecting is telling the Court you do not believe the settlement in the Inspire Medical Systems class action lawsuit, or some part of it, is fair or reasonable. You can file an objection only if you stay in the Class and do not exclude yourself, and you may submit a Claim Form even if you object to the settlement. On the other hand, requesting exclusion is explicitly telling the Court you do not want to be part of the Class or the Settlement in the class action against Inspire Medical Systems. If you exclude yourself, you cannot object to the Settlement because you no longer have standing as you are not a class member anymore. Similarly, you cannot submit a Claim Form. If you stay in the Class and object, but your objection is overruled, you will not be allowed a second opportunity to exclude yourself.
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.
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.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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