SAN DIEGO, March 30, 2017 /PRNewswire/ -- Johnson & Weaver, LLP (J&W) has commenced an investigation concerning whether U.S. Physical Therapy, Inc. (NYSE: USPH) violated federal securities laws. U.S. Physical Therapy operates outpatient physical therapy clinics in the United States.
On March 16, 2017, U.S. Physical Therapy disclosed that it had incorrectly accounted for redeemable non-controlling interests of acquired partnerships. Consequently, U.S. Physical Therapy would report a material weakness in its internal controls over financial reporting, and restate previously issued financial statements. Specifically, U.S. Physical Therapy's consolidated 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 should no longer be relied upon. Following this news, shares of U.S. Physical Therapy fell over 5% on March 16, 2017.
If you are a U.S. Physical Therapy shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker ([email protected]) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
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Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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