iRhythm Fails to Halt Information Exchange in Investor Lawsuit

iRhythm Technologies Inc. investors can proceed with the exchange of documents and other material in their proposed class action over statements touting a heart monitoring device, a federal court ruled Wednesday.

A request for judgment on the pleadings doesn’t halt the proceedings under the Private Securities Litigation Reform Act, Judge Jacqueline Scott Corley said for the US District Court for the Northern District of California.

Corley partially denied iRhythm’s motion to dismiss the complaint in June. The pension fund that brought the suit plausibly alleged the company and its top executives misrepresented its device’s accuracy and timely reporting to physicians, ...