LOS ANGELES–(BUSINESS WIRE) – Frank R. Cruz's law firms are investigating on behalf of Tactile Systems Technology, Inc. ("Tactile" or "Company") (NASDAQ: TCMD) investors regarding the company and possible executive violations the Confederation continued securities laws.
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On June 8, 2020, investment analyst OSS Research published a report on Tactile Medical entitled "Strong Tactile System Sales (TCMD): Bloated Stocks Need Compression Therapy". The OSS research report claimed that "the true source of Tactile's growth" is "a setback program that has led to widespread over-prescription." The OSS research report also says: “Medicare recently launched an industry-wide audit targeting Tactile disproportionately. 70% of Tactile's claims examined so far were rejected retrospectively. "
In the news, the company's stock price fell $ 5.28 a share or more than 10% and closed at $ 47.26 a share on June 8, 2020, injuring investors.
On August 3, 2020, after the market closed, Tactile announced its financial results for the second quarter of 2020 and saw a 22% year-over-year decrease in total sales.
In the news, the company's share price fell more than 16% during intraday trading on August 4, 2020.
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If you have purchased Tactile Securities, have information, or wish to learn more about these claims, or have any questions about this announcement or your rights or interests in relation to these matters, please contact Frank R. Cruz of Frank R.'s law firms. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067, 310-914-5007, email firstname.lastname@example.org or visit our website at www.frankcruzlaw.com. When inquiring by email, please provide your mailing address, phone number and number of shares purchased.
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