NEW YORK, March 16, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at U.S. Physical Therapy, Inc. ("USPH" or the "Company") (NYSE: USPH).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to maintain appropriate accounting methods and internal controls over financial reporting.
Specifically, on March 16, 2017, USPH disclosed that the Company had incorrectly accounted for redeemable non-controlling interests of acquired partnerships. The Company stated that as a result of accounting errors, the Company 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. In reaction to this news, the Company's stock price has declined.
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If you invested in USPH stock or options would like to discuss your legal rights, visit www.faruqilaw.com/USPH. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding USPH's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Telephone: (877) 247-4292 or (212) 983-9330
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