Published
August 3, 2026
This settlement resolves investor claims that iRhythm Technologies and its CEO misled the market about the Zio AT heart monitor — how fast it transmitted data, whether it suited high-risk patients, and how accurate its readings were. If you bought or acquired iRhythm (IRTC) common stock between July 25, 2022 and August 9, 2024, you can claim a share of a $45,000,000 fund, but you need your brokerage records and the deadline is October 1, 2026.
Current Status
Claims are open. A Claim Form must be submitted online, or postmarked if mailed, no later than October 1, 2026; the Notice gives that date without a timezone, so treat the date itself as the cutoff. The Court preliminarily approved the settlement on July 13, 2026 and authorized notice to the class. The Settlement Hearing on final approval is set for November 5, 2026 at 9:00 a.m. Pacific time by Zoom videoconference, and it can be moved without further written notice to the class. No final approval order has been entered, and no payment date has been announced. Money is distributed only after the Court approves the settlement and a plan of allocation, after any appeals are resolved, and after all claims are processed.
Status
Claims Open
Claim Deadline
October 1, 2026
Submitted online or postmarked by this date · no timezone specified in the Notice
Estimated Payout
$1.83 per share
Estimated average recovery before court-approved fees and expenses, which are estimated at $0.49 per share · pro rata by Recognized Claim · $45,000,000 fund · no distribution under $10
Proof Required
Yes
Brokerage records — trade confirmations or account statements documenting your iRhythm purchases, sales, and holdings
What Changed Recently?
The claim window opened. The Court preliminarily approved the $45,000,000 settlement on July 13, 2026, and the claims administrator began mailing the Notice and Claim Form to potential class members; the Notice is dated July 28, 2026. That is the event that turned this case from litigation an investor could only read about into something an eligible investor can act on.The settlement came together after a private mediation. The parties retained David Murphy of Phillips ADR Enterprises as mediator and held a session on April 2, 2026. In the weeks afterward the mediator recommended that the case settle for $45,000,000, both sides accepted, a term sheet was signed on May 13, 2026, and the parties executed the Stipulation and Agreement of Settlement on June 3, 2026.
The defendants have denied and continue to deny every claim and allegation of wrongdoing in the action. They state that they are settling solely to eliminate the burden, expense, and uncertainty of further litigation, and that nothing in the settlement is an admission of wrongdoing, a determination of liability, or a finding on the merits. No court has found any violation.
What Is the Case About?
iRhythm Technologies is a digital healthcare company headquartered in San Francisco. During the Class Period it made two cardiac monitoring devices used to diagnose and monitor arrhythmia, the Zio XT and the Zio AT, and its common stock traded on NASDAQ under the ticker IRTC.The lawsuit alleges that iRhythm and its Chief Executive Officer, Quentin Blackford, made materially false and misleading statements to investors about the Zio AT — specifically its purported near real-time data transmission capabilities, its appropriateness for high-risk patients, and the accuracy of the data the device reported. The complaint asserts claims under Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5, and a control-person claim under Section 20(a). The theory is that those statements inflated the share price and that investors were damaged when the market later learned what had allegedly been concealed.
The case has been contested at every stage. On June 3, 2025 the Court granted in part and denied in part the motion to dismiss: it sustained the Section 10(b) claims against iRhythm and Blackford as to statements about the Zio AT's timeliness, accuracy, and appropriateness for high-risk patients, but dismissed the claims against five former individual defendants, dismissed claims about the device's characterization as a mobile cardiac telemetry device, and dismissed all claims for statements made before July 25, 2022 — which is why the Class Period now starts on that date rather than in November 2021. The Court denied a motion for judgment on the pleadings on November 7, 2025, and held a hearing on the pending class certification motion on February 26, 2026. Through the class certification stage the parties produced more than 405,000 pages of documents and took seven depositions. All of the allegations remain allegations.
Who Qualifies?
The Settlement Class consists of all persons and entities who purchased or acquired iRhythm common stock during the period from July 25, 2022 through August 9, 2024, inclusive, and were allegedly damaged thereby.The only eligible security is iRhythm common stock. Option contracts are not eligible, although common stock bought or sold by exercising an option counts, using the option's exercise date and exercise price.
Excluded from the Settlement Class are the defendants; the immediate family members of Quentin Blackford or of any of the former individual defendants; anyone who was an officer or director of iRhythm during the Class Period; any firm, trust, corporation, or other entity in which an excluded person or entity has or had a controlling interest; iRhythm's employee retirement and benefit plans and their participants or beneficiaries, to the extent they bought through those plans; and the legal representatives, heirs, successors, or assigns of any excluded person or entity. Anyone whose request for exclusion is accepted by the Court is also out.
One point catches people out every time: receiving the Notice does not make you a Settlement Class Member, and being a Settlement Class Member does not guarantee a payment. Under the proposed Plan of Allocation you generally need to have held your Class Period shares through at least the close of trading on November 1, 2022 or, if you bought later, through at least one of the subsequent alleged corrective disclosure dates. Shares bought during the Class Period and sold before the close of trading on November 1, 2022 have a Recognized Loss Amount of $0.00.
How Much Can You Get?
The settlement fund is $45,000,000 in cash. Based on the lead plaintiff's damages consultant's estimate of the number of eligible shares, and assuming every eligible investor participates, the estimated average recovery is approximately $1.83 per eligible share before deductions. That is an estimate only. Your own recovery depends on when and at what prices you bought and sold, and on the total number and value of valid Claim Forms filed, so some class members will recover more and some less.Deductions come out of the fund first: taxes, notice and administration costs, litigation expenses, and attorneys' fees. Lead Counsel will apply for fees of up to 25% of the fund, which is $11.25 million, and for Litigation Expenses of up to $800,000 — an amount that may include up to $10,000 in costs for the lead plaintiff's own work representing the class under the PSLRA. If the Court awards the full amounts requested, the Notice estimates the average cost at approximately $0.49 per eligible share. Settlement Class Members are not personally liable for any of these fees.
What is left, the Net Settlement Fund, is distributed pro rata based on the relative size of each Authorized Claimant's Recognized Claim. Recognized Loss Amounts are calculated from the estimated artificial inflation in the share price on the purchase and sale dates, using the per-share table in the Notice. That table starts at $78.83 for purchases from July 25 through November 1, 2022 and steps down across the alleged corrective disclosures — to $60.44 from November 7, 2022, $27.03 from June 2, 2023, $16.64 from July 3, 2024, $6.14 from August 2, 2024, and $0.00 from August 12, 2024 onward. Purchases and sales are matched First In, First Out (FIFO), and the Recognized Loss Amount on short sales and the purchases covering them is zero.
Three limits are worth flagging. First, the PSLRA 90-day look-back cap applies: for shares still held at the close of trading on November 8, 2024, the recognized loss is capped using $70.38, the mean closing price of iRhythm common stock from August 12 through November 8, 2024. Second, if your overall Class Period trading produced a market gain rather than a market loss, your Recognized Claim is zero — and if your market loss is smaller than your calculated Recognized Claim, the claim is capped at the market loss. For that calculation the administrator ascribes a holding value of $64.64 to each Class Period share still held at the close of trading on August 9, 2024. Third, if your calculated distribution comes to less than $10.00, no check is issued and those funds go to claimants receiving $10.00 or more.
What Proof Is Required?
This is a documentation-heavy claim, which is standard for securities settlements and is the most common reason claims get rejected.You must submit the Claim Form with adequate supporting documentation for the transactions and holdings you list — copies of trade confirmations, monthly account statements, or an authorized statement from your broker or financial institution containing the same transactional and holding information. Neither the parties nor the claims administrator has any record of your trades, so pull your own records before you start. Keep every record of your ownership of and transactions in iRhythm common stock; you may need them to document the claim.
The Claim Form covers your holdings as of the opening of trading on July 25, 2022, your purchases and acquisitions and sales during the Class Period, and your holdings through the look-back window that ends November 8, 2024. Claims that do not meet the submission requirements may be rejected, though the claims administrator is required to write to you first and give you a chance to fix a curable deficiency, and you can ask the Court to review a rejection.
Participants in and beneficiaries of an iRhythm employee benefit plan covered by ERISA should not include transactions made through that plan on their own Claim Form — only shares purchased or acquired outside the plan.
Can You Opt Out? What About Objecting?
Yes, this settlement has an exclusion window, and it closes on the same day as the claim deadline. To exclude yourself you must mail or deliver a written request for exclusion to the claims administrator, at the address given in the official Notice, so that it is received no later than October 1, 2026. The request has to state your name, address, and telephone number (and a contact person for an entity), state that you request exclusion from the Settlement Class in this case, list the shares you held as of the opening of trading on July 25, 2022 and every purchase, acquisition, or sale during the Class Period with dates, share counts, and prices, and be signed by you or an authorized representative.Excluding yourself means you get nothing from the fund. It is also the only route that preserves your ability to bring or stay in another lawsuit against the defendants over the released claims. iRhythm has the right to terminate the settlement if valid exclusion requests exceed a threshold set in a confidential supplemental agreement.
Any Settlement Class Member who does not opt out may object to the settlement, the Plan of Allocation, or the fee and expense request. A written objection must identify the case name and number, give your name, address, and telephone number, be signed by you, state the grounds for the objection with specificity, and include documents sufficient to prove class membership — including your July 25, 2022 opening holdings and your Class Period transactions. It must be filed with or postmarked to the Court on or before October 1, 2026. Lead Counsel's fee and expense motion will be filed by August 20, 2026 and posted on the official settlement website, so you can read it before the objection deadline. If you also want to speak at the hearing, say so in the objection or send a separate notice of intention to appear by the same date.
What Is the Deadline?
The Claim Form and its supporting documentation must be submitted online, or postmarked if mailed, no later than October 1, 2026. Requests for exclusion must be received by October 1, 2026, and objections and notices of intention to appear must be filed or postmarked by October 1, 2026. The Notice states these dates without a timezone. A Settlement Class Member who misses the claim deadline is barred from any payment but remains bound by the settlement and its release.How Do You Take Action?
File online at the official settlement website, iRhythm Securities Litigation.com, where the Claim Form, the full Notice, the Stipulation, and the court filings in the case are posted. A paper Claim Form can be downloaded from the same site and mailed to the claims administrator at the address printed on the form.Before you start, gather your brokerage records covering July 25, 2022 through November 8, 2024 — that runs past the end of the Class Period because the look-back period feeds the loss calculation. File a separate Claim Form for each separate legal entity or separately managed account, and keep copies of everything you send.
If you bought iRhythm stock during the Class Period for someone else's benefit, as a broker or other nominee, the Notice requires you either to forward the notice packet to those beneficial owners or to give the claims administrator their names and addresses within seven calendar days, and it allows you to seek reimbursement of documented, reasonable costs of doing so from the fund.
What Happens Next?
The next milestone is the Settlement Hearing on November 5, 2026 at 9:00 a.m. Pacific time before Judge Jacqueline Scott Corley of the U.S. District Court for the Northern District of California, by Zoom videoconference. At that hearing the Court will consider whether to certify the Settlement Class for settlement purposes, whether the settlement is fair, reasonable, and adequate, whether to dismiss the action with prejudice and grant the releases, whether to approve the Plan of Allocation, and whether to grant Lead Counsel's motion for fees and expenses. Settlement Class Members do not have to attend, and the date, time, and format can change without further written notice — the official settlement website posts any change.If the Court grants final approval, distribution still waits for any appeals to be resolved and for all claims to be processed, which takes a substantial amount of time. No payment date has been announced. About six months after the initial distribution, any remaining balance may be re-distributed to claimants who cashed their checks, if Lead Counsel and the administrator determine that is cost-effective; whatever ultimately cannot be distributed cost-effectively goes to the Bluhm Legal Clinic Complex Civil Litigation and Investor Protection Center at the Northwestern Pritzker School of Law, or another court-approved non-profit.
Sources and Verification
• Official Settlement Website — iRhythm Securities Litigation• Notice of (I) Pendency of Class Action and Proposed Settlement; (II) Settlement Hearing; and (III) Motion for Attorneys' Fees and Litigation Expenses, dated July 28, 2026, including Appendix A (Plan of Allocation), Table A (artificial inflation) and Table B (90-day look-back)
• Stipulation and Agreement of Settlement dated June 3, 2026, ECF No. 147-1
• Glazing Employers and Glaziers' Union Local #27 Pension and Retirement Fund v. iRhythm Technologies, Inc., Case No. 3:24-cv-00706-JSC, U.S. District Court for the Northern District of California, San Francisco Division
OpenClassActions.com is a consumer news site and is not the claims administrator or a law firm.
Questions
I sold my iRhythm shares before November 2022. Do I get anything?
No. Under the proposed Plan of Allocation, shares purchased during the Class Period and sold before the close of trading on November 1, 2022 have a Recognized Loss Amount of $0.00. To have a Recognized Loss Amount, a Settlement Class Member must have held Class Period shares through at least the close of trading on November 1, 2022 or, if purchased after that date, through at least one of the later alleged corrective disclosure dates.
What if I still hold my iRhythm shares?
Shares purchased during the Class Period and still held at the close of trading on November 8, 2024 have a Recognized Loss Amount equal to the lesser of the artificial inflation on the purchase date shown in Table A of the Notice, or the purchase price minus $70.38 — the mean closing price of iRhythm common stock during the PSLRA 90-day look-back period from August 12, 2024 through November 8, 2024.
Do options or shares held in an iRhythm retirement plan count?
Option contracts are not eligible securities. Only iRhythm common stock counts, though stock bought or sold by exercising an option is eligible, using the exercise date and exercise price. Participants in and beneficiaries of an iRhythm employee benefit plan covered by ERISA should not include shares held through that plan on their Claim Form — only shares purchased or acquired outside the plan.
What is the minimum payment from the iRhythm settlement?
If an Authorized Claimant's calculated distribution comes to less than $10.00, no distribution is made to that claimant, and those funds are included in the distribution to Authorized Claimants whose amount is $10.00 or more.
Do I need a lawyer to file an iRhythm claim?
No. Settlement Class Members are represented by Court-appointed Lead Counsel and file directly with the claims administrator at no cost. Attorneys' fees and Litigation Expenses are paid out of the Settlement Fund only if the Court awards them, and Settlement Class Members are not personally liable for those fees. You may hire your own lawyer at your own expense if you want separate representation.
Related Securities Settlements
If you follow healthcare and life-science securities cases, the closest open comparisons are the ChemoCentryx $69M settlement, which shares this case's October 1, 2026 deadline, and the Amylyx Pharmaceuticals settlement. Other open claim windows include the Zymergen IPO settlement and the Edgio settlement. Every open and expired case we track is listed on the securities class actions hub, and the pro rata payment explainer covers how these funds get divided.Official Settlement Notice
For more class actions keep scrolling below.
Settlement Amount
$45,000,000
Case Title
Glazing Employers and Glaziers' Union Local #27 Pension and Retirement Fund v. iRhythm Technologies, Inc.
Case Number
3:24-cv-00706-JSC
Court
U.S. District Court, Northern District of California
San Francisco Division · Judge Jacqueline Scott Corley
Settlement Hearing
November 5, 2026 at 9:00 AM Pacific
By Zoom videoconference · subject to change without further notice
Administrator
Strategic Claims Services
Official Website
iRhythm Securities Litigation.com
