An investigation on behalf of investors in Tactile Systems Technology, Inc. (NASDAQ:TCMD) shares over potential wrongdoing at Tactile Systems Technology, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 08/21/2020 -- Certain directors of Tactile Systems Technology, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Tactile Systems Technology, Inc. (NASDAQ: TCMD) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Tactile Systems Technology directors breached their fiduciary duties and caused damage to the company and its shareholders.
On June 8, 2020, a report was issued entitled "Strong Sell On Tactile Systems: Bloated Stock Needs Compression Therapy." Specifically, the report stated, "We address the likely true source of Tactile's growth: a kickback arrangement, we believe, is resulting in rampant over-prescribing. Payers, including the VA, are cracking down and cutting reimbursement to Tactile." The report went on to say, "Medicare has launched an audit, and data reveals Tactile has been found non-compliant on 71% of its claims. We believe management has made no mention of these audits to investors."
Shares of Tactile Systems Technology, Inc. (NASDAQ: TCMD) declined from $54.21 per share on June 5, 2020 to as low as $39.40 per share on June 11, 2020.
Those who purchased shares of Tactile Systems Technology, Inc. (NASDAQ: TCMD) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.