Bernstein Litowitz Berger & Grossmann LLP Announces Proposed Class Action Settlement on Behalf of Purchasers of iRhythm Technologies, Inc. Common Stock

SAN FRANCISCO, Aug. 6, 2026 /PRNewswire/ -- Bernstein Litowitz Berger & Grossmann LLP announces that the United States District Court for the Northern District of California has approved the following announcement of a proposed class action settlement that would benefit purchasers of common stock of iRhythm Technologies, Inc. (NASDAQ: IRTC):

UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF CALIFORNIA

SUMMARY NOTICE OF (I) PENDENCY OF CLASS ACTION AND PROPOSED
SETTLEMENT; (II) SETTLEMENT FAIRNESS HEARING; AND (III) MOTION FOR
ATTORNEYS' FEES AND LITIGATION EXPENSES

TO:    All persons who purchased or otherwise acquired iRhythm Technologies, Inc. ("iRhythm") common stock from July 25, 2022 through August 9, 2024, inclusive (the "Class Period"), and were allegedly damaged thereby ("Settlement Class") ¹:

PLEASE READ THIS NOTICE CAREFULLY; YOUR RIGHTS WILL BE AFFECTED BY A CLASS ACTION LAWSUIT PENDING IN THIS COURT.

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Northern District of California ("Court"), that the above-captioned securities class action (the "Action") is pending in the Court.

YOU ARE ALSO NOTIFIED that Lead Plaintiff Oklahoma Firefighters Pension and Retirement System, on behalf of itself and the Settlement Class, and Defendants iRhythm Technologies, Inc. ("iRhythm" or the "Company") and Quentin Blackford (together, "Defendants") have reached a proposed settlement of the Action on behalf of the Settlement Class for $45,000,000 in cash (the "Settlement"). If approved by the Court, the Settlement will resolve all claims in the Action.

In the Action, Lead Plaintiff asserts federal securities law claims against iRhythm and its Chief Executive Officer, Quentin Blackford, arising from allegedly materially false and misleading statements or omissions during the Class Period concerning iRhythm's Zio AT heart monitoring device. Lead Plaintiff alleges that Defendants' alleged misstatements violated Section 10(b) of the Securities Exchange Act of 1934 (the "Exchange Act"), and that Mr. Blackford controlled iRhythm when the misstatements were made, in violation of Section 20(a) of the Exchange Act. Defendants expressly deny that Lead Plaintiff has asserted any valid claims as to either of them, and expressly deny any and all allegations of fault, liability, wrongdoing, or damages whatsoever in connection with the Action. Issues and defenses at issue in the Action included, among others, (i) whether Defendants made materially false statements or omissions; (ii) whether Defendants made the statements with the required state of mind; (iii) whether the alleged misstatements caused class members' losses; and (iv) the amount of damages, if any.² 

A hearing ("Settlement Hearing") will be held on November 5, 2026 at 9:00 a.m. Pacific Time, before the Honorable Jacqueline Scott Corley, United States District Court Judge for the Northern District of California, by Zoom videoconference, to determine, among other things: (i) whether, for purposes of settlement, the Action should be certified as a class action on behalf of the Settlement Class, Lead Plaintiff should be appointed as the class representative for the Settlement Class, and Lead Counsel should be appointed as class counsel for the Settlement Class; (ii) whether the Settlement on the terms and conditions provided for in the Stipulation is fair, reasonable, and adequate to the Settlement Class, and should be finally approved by the Court; (iii) whether the Action should be dismissed with prejudice against Defendants and the releases specified and described in the Stipulation (and in the Notice) should be granted; (iv) whether the proposed Plan of Allocation should be approved as fair and reasonable; and (v) whether Lead Counsel's motion for attorneys' fees in an amount not to exceed 25% of the Settlement Fund (i.e., $11.25 million) and payment of expenses in an amount not to exceed $800,000 (which amount may include a request for reimbursement of the reasonable costs and expenses incurred by Lead Plaintiff directly related to its representation of the Settlement Class) should be approved. Any updates regarding the Settlement Hearing, including information on how to attend the Zoom video conference and any changes to the date or time of the hearing or updates regarding in-person or remote appearances at the hearing, will be posted to the website for the Settlement, www.iRhythmSecuritiesLitigation.com.

If you are a member of the Settlement Class, your rights will be affected by the pending Action and the Settlement, and you may be entitled to share in the Settlement proceeds. This notice provides only a summary of the information contained in the detailed Notice. You may obtain a copy of the Notice, along with the Claim Form, by: (i) contacting the Claims Administrator at iRhythm Securities Litigation, c/o Strategic Claims Services, P.O. Box 230, 600 N. Jackson Street, Suite 205, Media, PA 19063, 1-866-457-5539, [email protected]; or (ii) downloading them from the website for the Settlement, www.iRhythmSecuritiesLitigation.com.

To be eligible to receive a payment from the Settlement, you must be a member of the Settlement Class and submit a Claim Form postmarked (if mailed), or online, no later than October 1, 2026, in accordance with the instructions set forth in the Claim Form. If you are a Settlement Class Member and do not submit a proper Claim Form, you will not be eligible to share in the Settlement proceeds, but you will nevertheless be bound by any judgments or orders entered by the Court in the Action.

If you are a member of the Settlement Class and wish to exclude yourself from the Settlement Class, you must submit a request for exclusion such that it is received no later than October 1, 2026, in accordance with the instructions set forth in the Notice. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court in the Action and you will not receive any benefits from the Settlement.

Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel's motion for attorneys' fees and expenses, must be submitted to the Court. Objections must be filed or postmarked (if mailed) no later than October 1, 2026, in accordance with the instructions set forth in the Notice.

PLEASE DO NOT CONTACT THE COURT, THE CLERK'S OFFICE, DEFENDANTS, OR DEFENDANTS' COUNSEL REGARDING THIS NOTICE. All questions about this notice, the Settlement, or your eligibility to participate in the Settlement should be directed to Lead Counsel or the Claims Administrator.

Requests for the Notice and Claim Form should be made to the Claims Administrator:

iRhythm Securities Litigation
c/o Strategic Claims Services
P.O. Box 230
600 N. Jackson Street, Suite 205
Media, PA 19063
1-866-457-5539
[email protected]
www.iRhythmSecuritiesLitigation.com 

All other inquiries should be made to Lead Counsel:

Bernstein Litowitz Berger & Grossmann LLP
Katherine M. Sinderson
1251 Avenue of the Americas
New York, NY 10020
1-800-380-8496
[email protected]

                                                                                  BY ORDER OF THE COURT
                                                                                  United States District Court
                                                                                  Northern District of California

¹ Certain persons and entities are excluded from the Settlement Class by definition, as set forth in the full Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses (the "Notice"), available at www.iRhythmSecuritiesLitigation.com.

² Capitalized terms not otherwise defined herein shall have the same meaning as in the Stipulation and Agreement of Settlement dated June 3, 2026 (the "Stipulation"). The Stipulation can be viewed at www.iRhythmSecuritiesLitigation.com. 

SOURCE Bernstein Litowitz Berger & Grossmann LLP