NEW YORK, July 03, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors Tactile Systems Technology, Inc. (“Tactile” or the “Company”) (NASDAQ: TCMD). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 7980.
The investigation concerns whether Tactile and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 8, 2020, OSS Research published a report entitled “Strong Sell On Tactile Systems: Bloated Stock Needs Compression Therapy” (the “OSS Report”). The OSS Report asserted, among other statements, that “the likely true source of Tactile’s growth” is “a kickback arrangement . . . resulting in rampant over-prescribing” and that “Medicare has launched an audit, and data reveals Tactile has been found non-compliant on 71% of its claims.” The OSS report also noted that “[s]ince 2017, Tactile has seen multiple key departures” among its executive leadership.
On this news, Tactile’s stock price fell $5.28 per share, or 10.05%, to close at $47.26 per share on June 8, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.