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  "docSlug": "4c8fe6013c68",
  "documentTitle": "iRhythm Technologies, Inc. (IRTC)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2025-08-18 00:00:00",
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  "pageNumber": 10,
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  "notes": "Uses a direct quote from a legal motion to frame the company's defensive legal strategy as an admission of material weakness.",
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      "text": "It is difficult to handicap the potential outcomes, but they could range from a settlement accompanied by a material fine, an additional warning letter, or a consent decree... we do not believe this extended regulatory episode should be a survivable event for CEO Blackford",
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      "kind": "callout",
      "text": "iRhythm requested the court seal portions of its recent order related to discovery. The excerpt below from its motion to seal suggests disclosures related to its regulatory compliance issues could harm its business, which should concern investors.",
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      "kind": "paragraph",
      "text": "Excerpt From Joint Administrative Motion to Seal the May 30, 2025 Order (Case 3:24-cv-03967-AMO document 61 filed 6/13/25)",
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      "kind": "table",
      "text": "Specifically, iRhythm requests that the Court seal the identified portions of the Court’s Order that relate to iRhythm’s confidential regulatory and compliance details... Further, public disclosure of these materials would risk competitive harm...",
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      "kind": "title",
      "text": "Legal Petitions By iRhythm Counsel Suggest Material Business Downside Risk From The Information Involved",
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