NEW YORK, Sept. 24, 2025 (GLOBE NEWSWIRE) -- If you have suffered a loss on your Semler Scientific, Inc. (“Semler” or the “Company”) (NASDAQ: SMLR) investment, contact Thomas W. Elrod of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below to discuss your rights or interests in the securities fraud class action lawsuit at no cost.
Investors have until October 28, 2025 to ask the Court to appoint them as lead plaintiff.
[CONTACT THE FIRM IF YOU SUFFERED A LOSS]
What Happened?
On February 28, 2025, Semler filed its Form 10-K with the SEC and therein, disclosed that the Company received an initial civil investigative demand from the U.S. Department of Justice in July 2017 regarding Semler’s claims for reimbursement related to the QuantaFlo device. Semler received subsequent requests for information in February 2019, December 2021, April 2022, and April 2023. In February 2025, Semler participated in settlement discussions with the DOJ, which were unsuccessful. The Company disclosed that “there is a risk that DOJ will file a complaint or complaint in intervention in a civil False Claims Act lawsuit seeking damages.” On this news, the price of Semler shares declined by $4.03 per share, or approximately 9.39%, from $42.92 per share on February 28, 2025 to close at $38.89 on March 3, 2025.
Then, on April 15, 2025, Semler revealed that it “reached agreement in principle on payment of $29.75 million to settle all claims (which amount excludes any potential relator counsel fees that may also be payable),” according to the complaint. On this news, the price of Semler shares declined by $3.40 per share, or approximately 9.9%, from $34.40 per share on April 15, 2025 to close at $31.00 on April 16, 2025.
What Is The Lawsuit About?
The lawsuit has been filed on behalf of investors who purchased securities during the period of March 10, 2021 through April 15, 2025, inclusive (“the Class Period”). The lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose a material investigation by the United States Department of Justice (the "DOJ") into violations of the False Claims Act, while discussing possible violations of the False Claims (and aggressive DOJ enforcement thereof) in hypothetical terms. When the true details entered the market, the lawsuit claims that investors suffered damages.
[CLICK HERE TO LEARN MORE ABOUT THE CLASS ACTION]
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.
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Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-699-1171
https://www.kmllp.com
investigations@kmllp.com
