We are investigating Tactile Systems Technology, Inc. (TCMD) (“Tactile” or the “Company”) for potential violations of the federal securities laws.
On June 8, 2020, OSS Research published a report entitled “Strong Sell On Tactile Systems: Bloated Stock Needs Compression Therapy” (the “OSS Report”). The OSS Report asserted, among other statements, that “the likely true source of Tactile’s growth” is “a kickback arrangement . . . resulting in rampant over-prescribing” and that “Medicare has launched an audit, and data reveals Tactile has been found non-compliant on 71% of its claims.” The OSS report also noted that “[s]ince 2017, Tactile has seen multiple key departures” among its executive leadership. On this news, Tactile’s stock price fell $5.28 per share, or 10.05%, to close at $47.26 per share on June 8, 2020.