Tactile Systems Technology, Inc.
|Company Name||Tactile Systems Technology, Inc.|
On June 8, 2020, the investment analyst OSS Research issued a report on Tactile Medical entitled “Strong Sell On Tactile Systems (TCMD): Bloated Stock Needs Compression Therapy.” The OSS Research report claimed that “the true source of Tactile’s growth” is “a kick-back scheme that has resulted in rampant overprescribing.” The OSS Research report also alleged that “Medicare has recently launched an industry-wide audit in which Tactile has been disproportionately targeted. 70% of Tactile’s claims audited so far have been retroactively denied.”
On this news, the Company’s share price fell $5.28 per share, or over 10%, to close at $47.26 per share on June 8, 2020, thereby injuring investors.
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