The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of investors who purchased Semler Scientific Inc. (“Semler” or the “Company”) (NASDAQ: SMLR) securities between March 10, 2021 and April 15, 2025, inclusive (the “Class Period”). Semler investors have until October 28, 2025 to file a lead plaintiff motion.

IF YOU SUFFERED A LOSS ON YOUR SEMLER SCIENTIFIC INC. (SMLR) INVESTMENTS, CLICK HERE TO SUBMIT A CLAIM TO POTENTIALLY RECOVER YOUR LOSSES IN THE ONGOING SECURITIES FRAUD LAWSUIT.

You can also contact the Law Offices of Frank R. Cruz to discuss your legal rights by email at info@frankcruzlaw.com, by telephone at (310) 914-5007, or visit our website at www.frankcruzlaw.com.

What Happened?

On February 28, 2025, Semler filed its annual report for full year 2024 and disclosed that "there is a risk that [U.S. Department of Justice (“DOJ”)] will file a complaint or complaint in intervention in a civil False Claims Act lawsuit seeking damages for tests performed using our device[.]" The Company also revealed it had received an initial civil investigative demand from the DOJ in July 2017 regarding Semler’s claims for reimbursement related to its peripheral artery disease QuantaFlo device. The Company further stated that it had participated in settlement discussions with the DOJ in February 2025, which were unsuccessful.

On this news, Semler’s stock price fell $4.03, or 9.4%, to close at $38.89 per share on March 3, 2025, thereby injuring investors.

Then, on April 15, 2025, Semler announced that it had reached an agreement with the DOJ “in principle on payment of $29.75 million to settle all claims.”

On this news, Semler’s stock price fell $3.40, or 9.9%, to close at $31.00 per share on April 16, 2025, thereby injuring investors further.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Semler did not disclose a material investigation by the United States Department of Justice into violations of the False Claims Act, while discussing possible violations of the False Claims Act (and aggressive DOJ enforcement thereof) in hypothetical terms; and (2) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

Contact Us To Participate or Learn More:

If you purchased Semler securities, wish to learn more about this action, or have any questions concerning this announcement or your rights or interests with respect to these matters, please click HERE or contact us at:

Law Offices of Frank R. Cruz

2121 Avenue of the Stars, Suite 800

Telephone: 310-914-5007

Email: info@frankcruzlaw.com

Visit our website at: www.frankcruzlaw.com

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View source version on businesswire.com: https://www.businesswire.com/news/home/20250903811694/en/

Law Offices of Frank R. Cruz Encourages Semler Scientific Inc. (SMLR) Investors To Inquire About Securities Fraud Class Action