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If you purchased shares of U.S. Physical Therapy, Inc. (NYSE:USPH), you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
March 22, 2017 (Shareholders Foundation) - An investigation on behalf of investors of U.S. Physical Therapy, Inc. (NYSE:USPH) shares over potential securities laws violations by U.S. Physical Therapy, Inc. and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of U.S. Physical Therapy, Inc. (NYSE:USPH) concerning whether a series of statements by U.S. Physical Therapy, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Houston, TX based U U.S. Physical Therapy, Inc., through its subsidiaries, operates outpatient physical therapy clinics that provide pre-and post-operative care, and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers and neurological-related injuries. U.S. Physical Therapy, Inc. reported that its annual Total Revenue rose from $305.07 million in 2014 to $331.30 million in 2015 and that its Net Income increased from $20.85 million in 2014 to $21.96 million in 2015.
Shares of U.S. Physical Therapy, Inc. (NYSE:USPH) grew from $44.00 per share in September 2015 to as high as $78.00 per share on March 2, 2017.
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. Shares of U.S. Physical Therapy, Inc. (NYSE:USPH) declined on March 16, 2017 to as low as $66.00 per share.
