NEW YORK–(BUSINESS WIRE)(CLASSACTIONDAILY)–Bernstein Liebhard, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Tactile Systems Technology, Inc. (“Tactile” or the “Company”) (NASDAQ: TCMD) resulting from allegations that Tactile might have issued misleading information to the investing public.
If you purchased Tactile securities, and/or would like to discuss your legal rights and options please visit TCMD Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
On June 8, 2020, research firm OSS Research published a scathing report about the Company entitled “Strong Sell on Tactile Systems: Bloated Stock Needs Compression Therapy.” In the report, OSS Research accused Tactile of (1) overstating its total addressable market by nearly $4.7 billion, (2) using a “‘daisy-chaining kick-back scheme’ that has resulted in rampant overprescribing and rapid market share gains at the expense of patients, insurers and the public,” and (3) concealing Medicare audits resulting in denials, for failure to establish medical necessity, of a whopping 71% of Tactile’s submitted claims.
On this news, the Company’s stock price fell $6.05, or 11.69%, from its June 8, 2020 opening price of $51.72 per share to a June 9, 2020 close of $45.67.
If you purchased Tactile securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/tactilesystemstechnologyinc-tcmd-shareholder-class-action-lawsuit-stock-fraud-317/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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