An investigation on behalf of investors of iRhythm Technologies, Inc. (NASDAQ: IRTC) shares over potential securities laws violations by iRhythm Technologies, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of iRhythm Technologies, Inc. (NASDAQ: IRTC) concerning whether a series of statements by iRhythm Technologies, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

San Francisco, CA based iRhythm Technologies, Inc., a digital healthcare company, provides ambulatory electrocardiogram (ECG) monitoring products for patients at risk for arrhythmias in the United States. iRhythm Technologies, Inc. reported that its annual Total Revenue rose from $98.50 million in 2017 to $147.29 million in 2018 and that its Net Loss increased from $29.42 million in 2017 to $48.28 million in 2018.

Between March 13 and March 27, 2019, a series of reports alleged that the Companys revenue base relied on an exceedingly generous, but increasingly fragile, reimbursement regime. These reports also alleged that iRhythm Technologies, Inc engaged in deceptive accounting practices.

Shares of iRhythm Technologies, Inc. (NASDAQ: IRTC) declined from $98.13 per share on February 27, 2019 to as low as $65.09 per share on April 2, 2019.