Zynex, Inc. (formerly Zynex Medical Holdings, Inc.)

Company Name
Zynex, Inc. (formerly Zynex Medical Holdings, Inc.)
Stock Symbol
ZYXI
Class Period
May 21, 2008 to March 31, 2009
Court
District of Colorado
Status
Settled

This action is brought on behalf of all persons or entities who purchased or otherwise acquired the securities of Zynex, Inc. (formerly Zynex Medical Holdings, Inc.) during the period May 21, 2008 through March 31, 2009, inclusive (the “Class Period”). The Complaint charges Zynex and certain of the Company’s executive officers with violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and S.E.C. Rule 10b-5. The Complaint alleges that throughout the Class Period defendants misrepresented and/or failed to disclose material adverse facts concerning the Company’s financial performance, in violation of Generally Accepted Accounting Principles and the Company’s own revenue recognition policies, which caused the Company to overstate its net accounts receivable and net income for the first three quarters of the fiscal year ended December 31, 2008.