Berman Tabacco has filed a class action lawsuit in the U.S. District Court for the District of Minnesota against CVRx Inc. (“CVRx” or the “Company”) (NASDAQ: CVRX) and certain of its current and former officers on behalf of persons and entities that purchased shares of CVRx’s common stock between July 25, 2023 and August 6, 2026, inclusive (the “Class Period”), for violations of the Securities Exchange Act of 1934. The case is captioned Oklahoma Police Pension and Retirement System v. CVRx, Inc., No. 26-cv-4746 (D. Minn.).
If you wish to serve as Lead Plaintiff for the Class, you must file a motion to serve as Lead Plaintiff with the Court no later than January 8, 2027. Any member of the proposed class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed class.
CVRx’s Business. CVRx is a medical device company focused on cardiovascular disease. Its sole product, Barostim, is an FDA-approved implantable device that improves symptoms in patients with heart failure with reduced ejection fraction. CVRx sells Barostim primarily to hospitals through its U.S. sales force.
The Allegations. The complaint alleges that defendants made materially false and misleading statements about CVRx’s revenue growth, sales practices, regulatory compliance, reimbursement strategy, and sales-force productivity. Specifically, CVRx allegedly generated revenue in part through improper sales practices, including improper marketing of Barostim, kickbacks, and false information provided to government health insurance programs. This conduct allegedly exposed the Company to liability under the False Claims Act and Anti-Kickback Statute. The complaint also alleges that, contrary to defendants’ assurances that the sales force had stabilized, turnover remained elevated and productivity lagged because many sales representatives needed more training and time to become productive.
The Alleged Truth Emerges. On August 6, 2026, CVRx disclosed that it had received a civil investigative demand from the U.S. Department of Justice in a False Claims Act investigation concerning improper marketing of Barostim, kickbacks to healthcare providers, and false information provided to government health insurance programs. CVRx also cut its 2026 revenue outlook, citing fewer sales territories and lower sales-force productivity. The Company disclosed that about 60% of its territory managers had joined in the prior 18 months and that rapid hiring had strained onboarding and training.
Following these disclosures, CVRx’s stock price fell $3.55 per share, or 60%, from $5.94 on August 6, 2026, to $2.39 on August 7, 2026, on heavy trading volume.
A copy of the complaint is available here.
About Berman Tabacco
Since 1982, our firm has prosecuted hundreds of securities cases on behalf of investors. The firm and its attorneys have been recognized for their work on behalf of plaintiffs, including by Benchmark Litigation, which ranked the firm as a Top Plaintiffs’ Firm and as Highly Recommended. Chambers USA recognized the firm as a leading securities litigation firm in its Securities Litigation–Mainly Plaintiff category.
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Contact:
Berman Tabacco
Caitlyn M. Barresi, Esq.
101 Montgomery Street, Suite 600
San Francisco, CA 94104
Email: law@bermantabacco.com