Semler Scientific(US:SMLR) Businesswireยท2025-09-05 17:04Core Viewpoint - Semler Scientific Inc. is facing a class action lawsuit due to alleged securities fraud related to undisclosed investigations by the U.S. Department of Justice regarding its QuantaFlo device and reimbursement claims [2][4]. Summary by Sections Company Background - Semler Scientific Inc. (NASDAQ: SMLR) is involved in the development of medical devices, specifically the QuantaFlo device for peripheral artery disease [2]. Legal Developments - On February 28, 2025, Semler disclosed a potential risk of a civil lawsuit from the DOJ regarding its reimbursement claims, which led to a significant drop in its stock price [2][3]. - Following unsuccessful settlement discussions with the DOJ in February 2025, Semler announced on April 15, 2025, an agreement in principle to pay $29.75 million to settle all claims, resulting in another decline in stock price [3]. Stock Performance - After the February 28 announcement, Semler's stock fell by $4.03, or 9.4%, closing at $38.89 on March 3, 2025 [3]. - Following the April 15 announcement, the stock dropped by $3.40, or 9.9%, closing at $31.00 on April 16, 2025 [3]. Allegations in the Lawsuit - The class action lawsuit alleges that Semler made materially false and misleading statements and failed to disclose a DOJ investigation into violations of the False Claims Act, which misled investors about the company's business prospects [4].