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 (firstname.lastname@example.org) by email or by phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP