NEW YORK--(BUSINESS WIRE)--
Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of U.S. Physical Therapy, Inc. (NYSE: USPH) resulting from allegations that U.S. Physical Therapy may have issued materially misleading business information to the investing public.
On March 16, 2017, U.S. Physical Therapy disclosed that it had incorrectly accounted for redeemable non-controlling interests of acquired partnerships. As a result, 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. On this news, shares of U.S. Physical Therapy fell $3.85 per share or over 5% to close at $69.90 per share on March 16, 2017.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by U.S. Physical Therapy investors. If you purchased shares of U.S. Physical Therapy please visit the firm’s website at http://www.rosenlegal.com/cases-1088.html for more information. You may also contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at [email protected] or [email protected].
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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