The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Inspire Medical Systems, Inc. (INSP) Investors

The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Inspire Medical Systems, Inc. (“Inspire Medical” or the “Company”) (NYSE: INSP) common stock between May 3, 2023 and November 7, 2023, inclusive (the “Class Period”). Inspire Medical investors have until February 20, 2024 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

On November 7, 2023, after the market closed, Inspire Medical reported disappointing earnings results for the third quarter of 2023, admitting that it had been tracking problems with its pilot Advisor Care “Acceleration Program,” noting a decrease in the number of prior authorization submissions for Inspire therapy.

On this news, Inspire Medical’s stock price fell $31.79, or 19.8%, to close at $129.65 per share on November 8, 2023, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) despite the 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 business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased Inspire Medical common stock during the Class Period, you may move the Court no later than February 20, 2024 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you purchased Inspire Medical common stock, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Inspire Medical Systems, Inc. (INSP) Investors