Court Misapplied Precedent In Dismissing Securities Claims, Investor Says

Mealey's (September 16, 2022, 10:45 AM EDT) -- SAN FRANCISCO — A federal district court erred in dismissing shareholder claims against a digital health care company and three of its former CEOs alleging that the defendants violated federal securities laws by failing to disclose that Medicare reimbursement rates for its lead product would decline after the Centers for Medicare and Medicaid Services (CMS) requested that the device receive a formal current procedural technology (CPT) reimbursement rate because it misapplied Ninth Circuit U.S. Court of Appeals precedent in reaching its decision, a retirement system argues in a Sept. 7 appellant brief filed in the Ninth Circuit....