BOSTON, March 17, 2017 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors nationwide, is investigating whether U.S. Physical Therapy, Inc. ("USPH" or the "Company") (NYSE: USPH) and certain of its officers and directors violated federal securities laws following the Company's announcement that it will restate nearly three years of its financial statements.
On March 16, 2017, USPH disclosed that it had incorrectly accounted for "redeemable non-controlling interests of acquired partnerships," which will require it to report a "material weakness in its internal controls over financial reporting." The Company also disclosed that, as a result, its financial statements for "the years ended December 31, 2015 and 2014, and all quarters within 2014 and 2015, and the first three quarters of 2016" will be restated and "should no longer be relied upon."
On this news, USPH shares fell more than 5% on March 16, 2017, and another 2.5% today, causing tens of millions in losses to investors.
If you purchased or otherwise acquired USPH securities and have questions about your legal rights or possess information relevant to this investigation, please contact attorney Bradley Vettraino at (617) 398-5600, by email at firstname.lastname@example.org, or by visiting www.blockesq.com/usph.
Confidentiality to whistleblowers or others with information relevant to this investigation is assured.
Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 50 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.
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Bradley J. Vettraino
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SOURCE Block & Leviton LLP