|Company name||Tactile Systems Technology, Inc.|
NEW YORK, June 9, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Tactile Systems Technology, Inc. (NASDAQ: TCMD) on behalf of Tactile Systems stockholders. Our investigation concerns whether Tactile Systems has violated the federal securities laws and/or engaged in other unlawful business practices.
On June 8, 2020, OSS Research published a report entitled “Strong Sell On Tactile Systems: Bloated Stock Needs Compression Therapy” (the “OSS Report”). The OSS Report asserted, among other statements, that “the likely true source of Tactile’s growth” is “a kickback arrangement . . . resulting in rampant over-prescribing” and that “Medicare has launched an audit, and data reveals Tactile has been found non-compliant on 71% of its claims.” The OSS report also noted that “[s]ince 2017, Tactile has seen multiple key departures” among its executive leadership.
On this news, Tactile’s stock price fell $5.28 per share, or 10.05%, to close at $47.26 per share on June 8, 2020.
If you purchased or otherwise acquired Tactile System shares and suffered a loss, are a long-term stockholder, have information, 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 Marion Passmore or Melissa Fortunato by email at email@example.com, telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.