Class Action Lawsuit Filed Against Semler Scientific Inc.

Strategic Insights -

On February 28, 2025, Semler Scientific Inc. disclosed in its annual report that it had received a civil investigative demand from the U.S. Department of Justice in July 2017 regarding reimbursement claims related to its peripheral artery disease QuantaFlo device. The company also revealed that it had participated in settlement discussions with the DOJ in February 2025, which were unsuccessful. This news caused a significant decline in the company's stock price, resulting in losses for investors.

Key Takeaways:

  • The class action lawsuit alleges that Semler made materially false and/or misleading statements about its business, operations, and prospects during the Class Period.
  • The Company failed to disclose a material investigation by the United States Department of Justice into violations of the False Claims Act.
  • Semler's stock price fell $4.03, or 9.4%, to close at $38.89 per share on March 3, 2025, and then fell another $3.40, or 9.9%, to close at $31.00 per share on April 16, 2025.
  • Investors who purchased or otherwise acquired Semler securities during the Class Period may move the Court no later than October 28, 2025, to request appointment as lead plaintiff.
  • The lawsuit seeks to recover damages on behalf of investors who suffered losses on their Semler investments.
  • Charles Linehan, Esq. and Glancy Prongay & Murray LLP are representing the investors in this class action lawsuit.
  • Investors can contact the firm at 310-201-9150 or visit their website at to learn more and participate in the lawsuit.

Statistics:

  • The class action lawsuit was filed on behalf of investors who purchased or otherwise acquired Semler securities between March 10, 2021 and April 15, 2025, inclusive.
  • The Company's stock price fell by $7.43 (21.3%) over the two trading days following the announcement of the DOJ investigation and settlement discussions.
  • The total decline in Semler's stock price from the high of $41.92 on February 26, 2025 to the low of $29.50 on April 16, 2025 was $12.42 (29.7%).

Sources:

  • GlobeNewswire, LOS ANGELES, Sept. 16, 2025 (GLOBE NEWSWIRE)
  • Glancy Prongay & Murray LLP, 1925 Century Park East, Suite 2100 Los Angeles, CA 90067