July 23, 2018 - The court granted the defendants' motion to dismiss.

December 1, 2017 - A motion to dismiss the second amended complaint was filed.

October 12, 2017 - A second amended complaint was filed.

August 4, 2017 - An amended complaint was filed.

March 31, 2017 (Shareholders Foundation) - An investor in shares of U.S. Physical Therapy, Inc. (NYSE:USPH) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by U.S. Physical Therapy, Inc. in connection with certain allegedly false and misleading statements made between May 8, 2014 and March 16, 2017.

According to the complaint the plaintiff alleges on behalf of purchasers of U.S. Physical Therapy, Inc. (NYSE:USPH) common shares between May 8, 2014 and March 16, 2017, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between May 8, 2014 and March 16, 2017 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.

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.