SOURCE: Dyer & Berens LLP

April 09, 2009 13:46 ET

Denver-Based Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Zynex, Inc. Securities Between May 21, 2008 and March 31, 2009; Announces Upcoming Investor Deadline -- ZYXI

DENVER, CO--(Marketwire - April 9, 2009) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the District of Colorado on behalf of certain investors of Zynex, Inc. (PINKSHEETS: ZYXI) f/k/a Zynex Medical Holdings, Inc. (PINKSHEETS: ZYNX) ("Zynex" or the "Company") who purchased the Company's securities between May 21, 2008 and March 31, 2009 (the "Class Period").

If you wish to serve as a lead plaintiff, you must move the Court no later than June 8, 2009. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362, (303) 861-1764, or via email jeff@dyerberens.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The Complaint asserts that Zynex, its CEO, Thomas Sandgaard, and CFO, Fritz Allison, violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934 in connection with Zynex's issuance of materially false financial statements to the investing public during the Class Period. On April 1, 2009, Zynex announced that its unaudited financial statements for the first three quarters of 2008 could no longer be relied upon and would be restated to reflect adjustments to allowance for provider discounts, accounts receivable and net revenue. The Company's stock price plummeted more than 50% on this unexpected disclosure.

Plaintiff seeks to recover damages on behalf of Zynex investors. The plaintiff is represented by Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    682 Grant Street
    Denver, CO 80203
    Tel: (888) 300-3362
    (303) 861-1764
    Email: Email Contact
    Website: www.DyerBerens.com