PR Newswire
PHILADELPHIA
, April 15, 2025 /PRNewswire/ — Berger Montague PC advises investors that a securities class action lawsuit has been filed against Zynex, Inc. (“Zynex” or the “Company”) (NASDAQ: ZYXI) on behalf of purchasers of Zynex securities between March 13, 2023 through March 11, 2025, inclusive (the “Class Period”).
Investor Deadline: Investors who purchased or acquired
ZYNEX
securities during the Class Period may, no later than
MAY 19, 2025
, seek to be appointed as a lead plaintiff representative of the class. To learn your rights,
CLICK HERE
.
Zynex, headquartered in Englewood, CO, is a medical device company that makes electrotherapy devices for pain management and rehabilitation.
On June 4, 2024, medical journal STAT published a report titled “How a device maker inundated pain patients with unwanted batteries and surprise bills,” which claimed that Zynex engaged in an “oversupplying scheme” by sending inordinate amounts of supplies, such as electrode pads and batteries, in order to “bill insurers for thousands of dollars more than it otherwise could.” The report further revealed that, as a result of this practice, insurers were “kicking the company out of network.”
On this news, Zynex’s stock price fell $0.50 per share, or 5%, to close at $9.35 per share on June 4, 2024.
On March 11, 2025, Zynex reported Q4 and full-year 2024 financial results, revealing a significant revenue “shortfall” in the quarter “due to slower than normal payments from certain payers.” Zynex further revealed “Tricare [health insurance program for the U.S. military] has temporarily suspended payments as they review prior claims.”
On this news, Zynex’s stock price fell $3.59 per share, or 51%, to close at $3.41 per share on March 12, 2025.
To learn your rights or for more information, CLICK HERE or please contact Berger Montague: Andrew Abramowitz at [email protected] or (215) 875-3015, or Peter Hamner at [email protected]
.
A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. The lead plaintiff is usually the investor or small group of investors who have the largest financial interest and who are also adequate and typical of the proposed class of investors. The lead plaintiff selects counsel to represent the lead plaintiff and the class and these attorneys, if approved by the court, are lead or class counsel. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Communicating with any counsel is not necessary to participate or share in any recovery achieved in this case. Any member of the purported class may move the Court to serve as a lead plaintiff through counsel of his/her choice, or may choose to do nothing and remain an inactive class member.
Berger Montague, with offices in Philadelphia, Minneapolis, Delaware, Washington, D.C., San Diego, San Francisco and Chicago, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for over five decades and serves as lead counsel in courts throughout the United States.
Contact:
Andrew Abramowitz, Senior Counsel
Berger Montague
(215) 875-3015
[email protected]
Peter Hamner
Berger Montague PC
[email protected]
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SOURCE Berger Montague
