Company Website:
http://www.ksfcounsel.com
NEW ORLEANS -- (Business Wire)
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a
partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces
that KSF has commenced an investigation into U.S. Physical Therapy, Inc.
(NYSE: USPH).
On March 16, 2017, U.S. Physical Therapy revealed an accounting error
related to “the Company’s historical accounting for redeemable
non-controlling interests of acquired partnerships … due to the fact
that those partnership agreements contain a provision that makes the
non-controlling interests mandatorily redeemable and, thus incorrectly
classified.”
The Company further stated that “this error will result in the reporting
of a material weakness in internal controls over financial reporting”
requiring “the restatement of previously issued financial statements.”
Thereafter, U.S. Physical Therapy and certain of its executives were
sued in a class action lawsuit, charging them with violations of federal
securities laws.
KSF’s investigation is focusing on whether U.S. Physical Therapy’s
officers and/or directors breached their fiduciary duties to its
shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or
have been a long-term holder of U.S. Physical Therapy shares and would
like to discuss your legal rights, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner
Lewis Kahn (lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General
Charles C. Foti, Jr., is a law firm focused on securities, antitrust and
consumer class actions, along with merger & acquisition and breach of
fiduciary litigation against publicly traded companies on behalf of
shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170428006094/en/
Contacts:
Kahn Swick & Foti, LLC
Lewis Kahn, 1-877-515-1850
Managing
Partner
lewis.kahn@ksfcounsel.com
Source: Kahn Swick & Foti, LLC
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