Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Tactile Systems Technology, Inc. (NasdaqGM: TCMD).
On June 8, 2020, the Company was the target of a investigative report published by research firm OSS Research accusing it of overstating its total addressable market by nearly $4.7 billion, using a “daisy-chaining kick-back scheme” resulting in “rampant overprescribing and rapid market share gains at the expense of patients, insurers and the public,” and concealing Medicare audit denials for failure to establish medical necessity in a significant number of submitted claims.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court presiding over that case denied the Company’s motion to dismiss in part, allowing the case to move forward.
KSF’s investigation is focusing on whether Tactile’s officers and/or directors breached their fiduciary duties to the Company’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Tactile shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or fill out the form on this page.