NEW ORLEANS, May 7, 2021 /PRNewswire/ -- 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. (NasdaqGS: TCMD).
On June 8, 2020, a report issued by OSS Research raised allegations that the Company's growth was the result of "a kick-back scheme that has resulted in rampant overprescribing" and that "Medicare has recently launched an industry-wide audit in which Tactile has been disproportionately targeted. 70% of Tactile's claims audited so far have been retroactively denied."
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 in violation of federal securities laws, which remains ongoing.
KSF's investigation is focusing on whether Tactile's officers and/or directors breached their fiduciary duties to Tactile'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 protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-tcmd/ to learn more.
About Kahn Swick & Foti, LLC KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.