NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Tactile Systems Technology, Inc. (NASDAQ: TCMD) resulting from allegations that Tactile Medical may have issued materially misleading business information to the investing public.
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 alleged 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, Tactile Medical’s stock price fell $5.28 per share, or 10%, to close at $47.26 per share on June 8, 2020, damaging investors.
Rosen Law Firm is preparing a securities lawsuit on behalf of Tactile Medical shareholders. If you purchased securities of Tactile Medical please visit the firm’s website at http://www.rosenlegal.com/cases-register-1872.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at email@example.com or firstname.lastname@example.org.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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