TCMD ALERT: The Klein Law Firm Announces a Lead Plaintiff Deadline of November 30, 2020 in the Class Action Filed on Behalf of Tactile Systems Technology, Inc. Limited Shareholders
New York, New York--(Newsfile Corp. - November 24, 2020) - The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Tactile Systems Technology, Inc. (NASDAQ: TCMD) alleging that the Company violated federal securities laws.
Class Period: May 7, 2018 and June 8, 2020
Lead Plaintiff Deadline: November 30, 2020
Learn more about your recoverable losses in TCMD:
The filed complaint alleges that Tactile Systems Technology, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in truth, the total addressable market for Tactile's pneumatic compression devices was materially smaller; (2) to induce sales growth and share gains, Tactile and/or its employees were engaged in illicit and illegal sales and marketing activities in violation of applicable federal and state rules and public payer regulations; (3) the foregoing illicit and illegal sales and marketing activities increased the risk of a Medicare audit of Tactile's claims and criminal and civil liability; (4) Tactile's revenues were in part the product of unlawful conduct and thus unsustainable; and that as a result of the foregoing, (5) Defendants' public statements, including Tactile's year-over-year revenue growth, the purported growth drivers, and the effectiveness of Tactile's internal controls over financial reporting were materially false and misleading at all relevant times.
Shareholders have until November 30, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
For additional information about the TCMD lawsuit, please contact J. Klein, Esq. by telephone at 212-616-4899 or click the link above.
J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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