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  "documentTitle": "iRhythm Technologies, Inc. (IRTC)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2025-08-18 00:00:00",
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      "kind": "callout",
      "text": "For brevity, we note that the government eviscerated this defense (see Case 3:24-cv-03967-AMO document 5).",
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      "text": "iRhythm has consistently positioned its resistance to the DOJ's discovery request as a noble fight to defend the concept of legal privilege. Yet iRhythm's own legal submissions suggest the Company simply wanted to defend against the release of information it may have suspected would harm its stock price.",
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      "kind": "quote",
      "text": "In July, the DOJ filed a petition for order to show cause... The company disagrees with the DOJ's attempt to invade the attorney-client privilege... not only as it pertains to this case, but for the precedent it sets in other outstanding and future matters.",
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      "text": "In July, the DOJ filed a petition for order to show cause, an application for enforcement of administrative subpoena, seeking the production of certain documents that the company has withheld on the basis of legal privilege. The company disagrees with the DOJ's attempt to invade the attorney-client privilege and the protection afforded to attorney work product. In partnership with our top tier outside counsel, we determined that it is in the best interest of the company to continue to maintain our position that certain documents are privileged, not only as it pertains to this case, but for the precedent it sets in other outstanding and future matters. — iRhythm CEO Blackford on Q3 2024 Earnings Call, 10/30/24",
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      "kind": "source-note",
      "text": "Red underline for Spruce Point emphasis. Source: iRhythm Q3 2024 earnings call transcript, Case 3:24-cv-03967-AMO document 4 filed 7/3/24",
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      "kind": "table",
      "text": "Disclosing this information has already harmed iRhythm competitively. Indeed, since the filing iRhythm's stock has dropped over 10% in just two days...",
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      "kind": "title",
      "text": "The DOJ Case Record Suggests The Real Reason Behind iRhythm's Foot-Dragging On Discovery",
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