Zynex, Inc. Class Action Lawsuit - ZYXI
Case Summary
Investors who suffered a loss and would like to learn more, click here to contact us.
The Zynex class action lawsuit seeks to represent purchasers or acquirers of Zynex, Inc. (NASDAQ: ZYXI) securities between March 13, 2023 and March 11, 2025, inclusive (the “Class Period”). Captioned Tuncel v. Zynex, Inc., No. 25-cv-00913 (D. Colo.), the Zynex class action lawsuit charges Zynex and certain of Zynex’ top executives with violations of the Securities Exchange Act of 1934.
If you suffered substantial losses and wish to serve as lead plaintiff of the Zynex class action lawsuit, please provide your information in the form on this page. You can also contact attorney J.C. Sanchez or Jennifer N. Caringal of Robbins Geller by calling 800/449-4900 or via e-mail at info@rgrdlaw.com. Lead plaintiff motions for the Zynex class action lawsuit must be filed with the court no later than May 19, 2025.
CASE ALLEGATIONS: Zynex is a medical device manufacturer that produces and markets electrotherapy devices for use in pain management and physical rehabilitation.
The Zynex class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Zynex shipped products, including electrodes, in excess of need; (ii) as a result of this practice, Zynex inflated its revenue; (iii) Zynex’ practice of filing false claims drew scrutiny from insurers, including Tricare; and (iv) consequently, it was reasonably likely that Zynex would face adverse consequences, including removal from insurer networks and penalties from the federal government.
The Zynex class action lawsuit further alleges that on June 4, 2024, medical journal STAT published a report on Zynex entitled “How a device maker inundated pain patients with unwanted batteries and surprise bills,” that claimed Zynex engaged in an “oversupplying scheme” by sending an inordinate amount of monthly supplies like electrode pads and batteries in order to “bill insurers for thousands of dollars more than it otherwise could.” On this news, the price of Zynex shares fell more than 5%, according to the complaint.
Then, on March 11, 2025, Zynex reported its fourth quarter and full year 2024 financial results, revealing a significant revenue “shortfall” in the quarter “due to slower than normal payments from certain payers,” the Zynex class action lawsuit alleges. The complaint further alleges that Zynex also revealed that “Tricare has temporarily suspended payments as they review prior claims.” On this news, the price of Zynex shares fell more than 51%, according to the Zynex class action lawsuit.
THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Zynex securities during the Class Period to seek appointment as lead plaintiff in the Zynex class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Zynex class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Zynex class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Zynex class action lawsuit.
ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities fraud and shareholder litigation. Our Firm has been ranked #1 in the ISS Securities Class Action Services rankings for four out of the last five years for securing the most monetary relief for investors. In 2024, we recovered over $2.5 billion for investors in securities-related class action cases – more than the next five law firms combined, according to ISS. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig.