Lawsuit for Investors in U.S. Physical Therapy, Inc. (NYSE: USPH) Shares Announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / May 31, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who purchased NYSE: USPH shares against U.S. Physical Therapy, Inc. over alleged Securities Laws Violations.

Investors, who purchased shares of U.S. Physical Therapy, Inc. (NYSE: USPH), should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779-1554.

On March 16, 2017, U.S. Physical Therapy, Inc. disclosed that the Company had incorrectly accounted for redeemable non-controlling interests of acquired partnerships. U.S. Physical Therapy, Inc. stated that as a result of the errors, the Company would report a material weakness in its internal controls over financial reporting, and restate previously issued financial statements. Specifically, U.S. Physical Therapy, Inc. stated that its 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 March 31, 2017, a lawsuit was filed against U.S. Physical Therapy, Inc. over alleged securities laws violations. The plaintiff claims that the defendants failed to disclose that the Company had a material weakness in its internal controls over accounting and financial reporting, that the Company improperly accounted for redeemable non-controlling interests of acquired partnerships in violation of Generally Accepted Accounting Principles (“GAAP”), that, as a result, the Company’s 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 contained material errors, and that, as a result of the foregoing, Defendants’ statements about USPh’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

Those who purchased U.S. Physical Therapy, Inc. (NYSE: USPH) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

SOURCE: Shareholders Foundation, Inc.

ReleaseID: 464500