01:29 PM EST, 03/03/2025 (MT Newswires) -- Semler Scientific ( SMLR ) shares fell 4.9% in recent Monday trading after the company disclosed in a regulatory filing last Friday that the US Department of Justice is investigating whether it violated the federal False Claims Act by marketing tests on devices that use photoplethysmography technology as reimbursable by Medicare.

The company said it began initial settlement discussions with the DOJ on Feb. 11 but ceased the talks on the same day.

"Accordingly, there is a risk that DOJ will file a complaint or complaint in intervention in a civil False Claims Act lawsuit seeking damages," Semler said in the filing. "We do not believe the amount of loss can be reasonably estimated."

Price: 40.82, Change: -2.10, Percent Change: -4.89