Zynex(ZYXI) GlobeNewswire News Room·2025-05-12 17:17Core Viewpoint - Zynex, Inc. is facing a class action lawsuit due to allegations of issuing misleading statements and inflating revenue through improper business practices during the class period from March 13, 2023, to March 11, 2025 [3]. Summary by Relevant Sections Allegations - The complaint alleges that Zynex shipped products, including electrodes, in excess of need, leading to inflated revenue [3]. - The company's practice of filing false claims has drawn scrutiny from insurers, including the U.S. military health insurance program, Tricare [3]. - As a result of these practices, Zynex is likely to face adverse consequences, including removal from insurer networks and potential penalties from the federal government [3]. - The positive statements made by the defendants regarding the company's business and prospects were materially misleading and lacked a reasonable basis [3]. Class Action Details - The class period for the lawsuit is defined as March 13, 2023, to March 11, 2025 [3]. - Shareholders who purchased shares during this period are encouraged to register for the class action, with a deadline set for May 19, 2025 [4]. - Participants will be enrolled in a portfolio monitoring software to receive updates throughout the case lifecycle [4]. Law Firm Information - The Gross Law Firm is a nationally recognized class action law firm dedicated to protecting the rights of investors affected by deceit and illegal business practices [5]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [5].