Inspire Medical Systems, Inc. and two of its officers won dismissal with prejudice of a securities fraud lawsuit alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 in the U.S. District Court for the District of Minnesota. The suit arose after Inspire disclosed challenges with a pilot program aimed at reducing involvement in prior authorizations for its patients, which led to a stock price drop. Faegre Drinker filed a motion to dismiss, and the U.S. District Court for the District of Minnesota, the Hon. Nancy E. Brasel, agreed with our arguments that the plaintiff failed to adequately allege false statements or fraudulent intent. The court dismissed the entire case with prejudice.
Results may vary depending on your particular facts and legal circumstances.
