Investor Alert: Kaplan Fox Investigates Tactile Systems Technology, Inc. For Potential Securities...

Investor Alert: Kaplan Fox Investigates Tactile Systems Technology, Inc. For Potential Securities Fraud

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NEW YORK, Oct. 7, 2020 /PRNewswire/ — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of Tactile Systems Technology, Inc. (“Tactile” or the “Company”) (NASDAQ: TCMD). A complaint has been filed on behalf of investors who purchased or otherwise acquired Tactile securities between May 7, 2018 and June 8, 2020, inclusive (the “Class Period”).

On March 20, 2019, an amended Qui Tam complaint against Tactile was unsealed alleging that the Company violated anti-kickback laws by illegally paying physicians to be “advisors” and “paid spokesmen” in order to secure business. A number of securities analysts then allegedly released detailed reports summarizing the Qui Tam complaint’s allegations.

Following this news, Tactile’s shares fell $4.53 per share, more than 7%, over two trading days to close at $55.57 per share on March 22, 2019.

On June 8, 2020, OSS Research issued a report alleging that “the true source of Tactile’s (NASDAQ: TCMD) growth is a kick-back arrangement that we believe has resulted in rampant over-prescribing. . . .”

On June 8, 2020, Tactile’s shares fell $5.28 per share, over 10%, to close at $47.26 per share on June 8, 2020.

If you are a member of the proposed Class, you may move the court no later than November 30, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing [email protected] or by calling 646-315-9003.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:

Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: [email protected]@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: [email protected]

Cision View original content:http://www.prnewswire.com/news-releases/investor-alert-kaplan-fox-investigates-tactile-systems-technology-inc-for-potential-securities-fraud-301148180.html

SOURCE Kaplan Fox & Kilsheimer LLP



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