Zynex(US:ZYXI) Prnewswireยท2025-04-07 09:45Core Viewpoint - Zynex, Inc. is facing a class action lawsuit due to allegations of issuing materially false and misleading statements regarding its business practices, particularly concerning inflated revenue and improper claims submissions [1][2]. Allegations - The complaint alleges that Zynex shipped products, including electrodes, in excess of need, leading to inflated revenue figures [1]. - The company's practice of filing false claims has drawn scrutiny from insurers, including the U.S. military health insurance program, Tricare [1]. - As a result of these practices, Zynex is likely to face adverse consequences, including potential removal from insurer networks and penalties from the federal government [1]. - The positive statements made by the defendants about Zynex's business, operations, and prospects were materially misleading and lacked a reasonable basis [1]. Class Action Details - The class period for the lawsuit is from March 13, 2023, to March 11, 2025 [1]. - Shareholders who purchased shares during this period are encouraged to register for the class action by May 19, 2025 [2]. - Participants will be enrolled in a portfolio monitoring software to receive updates throughout the lifecycle of the case [2]. Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors who have suffered due to deceit and illegal business practices [3]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors affected by misleading statements [3].