BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith continues its 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.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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