[ACCESSWIRE]
IRVINE, CA / ACCESSWIRE / March 30, 2017 / Khang & Khang LLP (the "Firm") announces that it is investigating claims against U.S. Physical Therapy, Inc. ("U.S. Physical Therapy" or the "Company") (NYSE: USPH) concerning possible violations of federal securities laws.
If you purchased shares of U.S. Physical Therapy and want more information, please contact Joon M. Khang, Esquire, of Khang & Khang, 18101 Von Karman Avenue, 3rd Floor, Irvine, CA 92612, by telephone: (949) 419-3834, or by e-mail at [email protected].
The investigation focuses on whether the Company and certain of its officers and/or directors violated federal securities laws. On March 16, 2017, U.S. Physical Therapy revealed it had found an accounting error, stating, "it was determined that the Company's historical accounting for redeemable non-controlling interests of acquired partnerships was incorrect due to the fact that those partnership agreements contain a provision that makes the non-controlling interests mandatorily redeemable and, thus incorrectly classified." U.S. Physical Therapy further commented that, "[m]anagement has concluded that this error will result in the reporting of a material weakness in internal controls over financial reporting as they relate to this issue and that, as a result, ineffective internal controls over financial reporting. The error will require the restatement of previously issued financial statements."
If you have any questions concerning this notice or your rights, please contact Joon M. Khang, a prominent litigator for almost two decades, by telephone: (949) 419-3834, or by e-mail at [email protected].
This press release may constitute Attorney Advertising in some jurisdictions.
Contact
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
[email protected]
SOURCE: Khang & Khang LLP
