Semler Scientific(US:SMLR) Globenewswireยท2025-10-16 17:08Core Viewpoint - The article discusses a class action lawsuit against Semler Scientific Inc. due to alleged misleading statements and failure to disclose a DOJ investigation related to the company's QuantaFlo device, impacting investors during the specified class period [1][4]. Group 1: Company Background and Events - Semler Scientific Inc. is facing a class action lawsuit for allegedly making materially false and misleading statements regarding its business operations and the risks associated with a DOJ investigation [4]. - The company disclosed on February 28, 2025, that it had received a civil investigative demand from the DOJ regarding reimbursement claims related to its QuantaFlo device, which was not previously disclosed to investors [2][4]. - Following the announcement of a settlement agreement with the DOJ for $29.75 million on April 15, 2025, Semler's stock price fell significantly, indicating investor concern and potential financial impact [3]. Group 2: Stock Price Impact - After the February 28, 2025 disclosure, Semler's stock price dropped by $4.03, or 9.4%, closing at $38.89 per share on March 3, 2025 [3]. - Following the April 15, 2025 settlement announcement, the stock price fell by $3.40, or 9.9%, closing at $31.00 per share on April 16, 2025, further injuring investors [3]. Group 3: Legal Proceedings - The class action lawsuit allows investors who purchased Semler securities between March 10, 2021, and April 15, 2025, to file a lead plaintiff motion by October 28, 2025 [1][5]. - The lawsuit alleges that the defendants failed to disclose the DOJ investigation, which misled investors about the company's true operational risks and prospects [4].