Energy News / Shareholders Foundation, Inc.

Investigation for Long-Term Investors in Shares of U.S. Physical Therapy, Inc. (NYSE:USPH) Announced

Via: ReleaseWire

Updated 11:15 AM CDT, Wed, July 12,2017

An investigation on behalf of current long term investors in U.S. Physical Therapy, Inc. (NYSE:USPH) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:USPH stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 07/12/2017 -- An investigation on behalf of current long-term investors in shares of U.S. Physical Therapy, Inc. (NYSE:USPH) concerning potential breaches of fiduciary duties by certain directors and officers of U.S. Physical Therapy, Inc. was announced.

Investors who are current long term investors in U.S. Physical Therapy, Inc. (NYSE:USPH) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm for current long term investors in NYSE:USPH stocks follows a lawsuit filed recently against U.S. Physical Therapy, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:USPH stocks, concerns whether certain U.S. Physical Therapy directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges 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.

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.

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

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/investigation-for-long-term-investors-in-shares-of-us-physical-therapy-inc-nyseusph-announced-831283.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com