The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Tactile Systems Technology, Inc. (TCMD) Investors
LOS ANGELES–(BUSINESS WIRE)–Sep 30, 2020–
The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Tactile Systems Technology, Inc. (“Tactile” or the “Company”) (NASDAQ: TCMD ) securities between May 7, 2018 and June 8, 2020, inclusive (the “Class Period”). Tactile investors have until November 30, 2020 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On March 20, 2019, an amended Qui Tam complaint against Tactile was unsealed, alleging that the Company illegally paid hospital staff to induce physicians to prescribe its medical devices and had submitted fraudulent claims to Medicare and Veterans Administration (“VA”).
On this news, Tactile’s share price fell $4.53 per share, or over 7%, over two consecutive trading sessions to close at $55.57 per share on March 22,