NEW YORK, March 16, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the U.S. Physical Therapy, Inc. ("U.S. Physical Therapy" or the "Company") (NYSE: USPH). Such investors are advised to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/usph.
The investigation concerns whether U.S. Physical Therapy and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On March 16, 2017, U.S. Physical Therapy revealed that it had discovered an accounting error. The Company stated that "it was determined that the Company's historical accounting for redeemable non-controlling interests of acquired partnerships was incorrect due to the fact that those partnership agreements contain a provision that makes the non-controlling interests mandatorily redeemable and, thus incorrectly classified." U.S. Physical Therapy also said that "[m]anagement has concluded that this error will result in the reporting of a material weakness in internal controls over financial reporting as they relate to this issue and that, as a result, ineffective internal controls over financial reporting. The error will require the restatement of previously issued financial statements." Following this news, U.S. Physical Therapy stock has dropped as much as $7.75 per share, or 10.51%, during intraday trading on March 16, 2017.
If you are aware of any facts relating to this investigation, or purchased U.S. Physical Therapy shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/usph. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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