LOS ANGELES, April 25, 2017 /PRNewswire/ -- Lundin Law PC , a shareholder rights firm, announces the filing of a class action lawsuit against U.S. Physical Therapy, Inc. ("U.S. Physical Therapy" or the "Company") (NYSE: USPH) concerning possible violations of federal securities laws between May 8, 2014 and March 16, 2017 inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the May 30, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The complaint alleges that during the Class Period, U.S. Physical Therapy and certain of its executives violated federal securities laws. On March 16, 2017, the Company disclosed that it incorrectly accounted for redeemable non-controlling interests of acquired partnerships. The Company stated that, as a result of accounting errors, it would report a material weakness in its internal controls over financial reporting and restate previously-issued financial statements; and that consolidated reports for the years ended December 31, 2015 and 2014, and all quarters within 2014 and 2015, and the first three quarters of 2016 should no longer be relied upon. When this news was announced to the public, U.S. Physical Therapy's stock price declined materially, which harmed investors.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
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SOURCE Lundin Law PC