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LOS ANGELES, June 09, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Tactile Systems Technology, Inc. (TCMD) investors that the firm has initiated an investigation into alleged violations of securities laws, and may file a lawsuit on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: email@example.com, to discuss their legal rights, including eligibility for appointment as a class representative. Class representatives are appointed by the court to act as a fiduciary on behalf of other injured investors.
The investigation focuses on whether the company’s officers misled investors regarding the reason for Tactile’s growth, namely that Tactile allegedly hid a kickback scheme from investors. On June 8, 2020, OSS Research issued a report alleging that, "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…Medicare has launched an audit and data reveals Tactile has been found non-compliant on 71% of its claims.”On this news, the Company's share sharply.
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