The Law Offices of Frank R. Cruz announces an investigation on behalf of Tactile Systems Technology, Inc. ("Tactile" or the "Company") (NASDAQ: TCMD) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On June 8, 2020, the investment analyst OSS Research issued a report on Tactile Medical entitled “Strong Sell On Tactile Systems (TCMD): Bloated Stock Needs Compression Therapy.” The OSS Research report claimed that “the true source of Tactile’s growth” is “a kick-back scheme that has resulted in rampant overprescribing.” The OSS Research report also alleged that “Medicare has recently launched an industry-wide audit in which Tactile has been disproportionately targeted. 70% of Tactile’s claims audited so far have been retroactively denied.”
On this news, the Company’s share price fell $5.28 per share, or over 10%, to close at $47.26 per share on June 8, 2020, thereby injuring investors.
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If you purchased Tactile securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20200611005229/en/
Contacts:
Frank R. Cruz, 310-914-5007
fcruz@frankcruzlaw.com
www.frankcruzlaw.com
