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Robbins LLP Reminds ZYXI Stockholders With Large Losses to Contact the Firm for Information About the Zynex, Inc. Class Action Lawsuit
Prnewswire· 2025-03-31 22:15
Core Viewpoint - A class action has been filed against Zynex, Inc. for allegedly inflating its revenue and filing false claims, leading to significant financial repercussions for the company and its shareholders [1][2]. Group 1: Allegations and Financial Impact - The complaint alleges that Zynex shipped products in excess of need, resulting in inflated revenue [2]. - The company faced scrutiny from insurers, including Tricare, due to its practice of filing false claims [2]. - On March 11, 2025, Zynex reported a significant revenue shortfall attributed to slower payments from certain payers, leading to a 51.3% drop in stock price, closing at $3.41 per share [3]. Group 2: Class Action Participation - Shareholders may be eligible to participate in the class action against Zynex, with a deadline to file as lead plaintiff by May 19, 2025 [4]. - Participation in the case is not required to be eligible for recovery, allowing shareholders to remain absent class members if they choose [4]. Group 3: Company Background - Zynex, Inc. is a medical device manufacturer specializing in electrotherapy devices for pain management and physical rehabilitation [1].