Tactile Systems Technology, Inc. (NASDAQ: TCMD) Investor Alert: Investigation over possible Violations of Securities Laws

An investigation was announced concerning potential securities laws violations by Tactile Systems Technology, Inc. in connection with certain financial statements.

Investors who purchased shares of Tactile Systems Technology, Inc. (NASDAQ: TCMD), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on whether a series of statements by Tactile Systems Technology, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Minneapolis, MN based Tactile Systems Technology, Inc., a medical technology company, develops and provides medical devices for chronic diseases in the United States. Tactile Systems Technology, Inc. reported that its annual Total Revenue rose from $143.75 million in 2018 to $189.49 million in 2019, and that its Net Income increased from $6.62 million in 2018 to $10.97 million in 2019.

On June 8, 2020, a report was issued entitled "Strong Sell On Tactile Systems: Bloated Stock Needs Compression Therapy." Specifically, the report stated, "We address the likely true source of Tactile's growth: a kickback arrangement, we believe, is resulting in rampant over-prescribing. Payers, including the VA, are cracking down and cutting reimbursement to Tactile." The report went on to say, "Medicare has launched an audit, and data reveals Tactile has been found non-compliant on 71% of its claims. We believe management has made no mention of these audits to investors."

Shares of Tactile Systems Technology, Inc. (NASDAQ: TCMD) declined from $54.21 per share on June 5, 2020 to as low as $39.40 per share on June 11, 2020.

Those who purchased shares of Tactile Systems Technology, Inc. (NASDAQ: TCMD) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.