GlobeNewswire Inc | Oct 12, 2020 02:59PM EDT

October 12, 2020

PHILADELPHIA, Oct. 12, 2020 (GLOBE NEWSWIRE) -- Kehoe Law Firm, P.C. is investigating potential securities claims on behalf of investors of Tactile Systems Technology, Inc. (Tactile or the Company) (NASDAQ: TCMD) to determine whether Tactile engaged in securities fraud or other unlawful business practices.

Tactile investors who purchased, or otherwise acquired, the Companys securities between May 7, 2018 and June 8, 2020, both dates inclusive (the Class Period), and suffered losses greater than $100,000are encouraged to complete Kehoe Law Firms Securities Class Action Questionnaire or contact Michael Yarnoff, Esq., (215) 792-6676, Ext. 804,myarnoff@kehoelawfirm.com, securities@kehoelawfirm.com, to discuss thesecurities investigation or potential legal claims.

IF YOU WISH TO SERVE AS LEAD PLAINTIFF, YOU MUST MOVE THE COURT NO LATER THAN NOVEMBER 30, 2020. To be a member of the class action, you do not need to take any action at this time; you may retain counsel of your choice; or you can take no action and remain an absent member of the class action. No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel, unless you retain an attorney. An investors ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

According to a class action lawsuit filed on September 29, 2020 in United States District Court, District of Minnesota, during the Class Period, the Tactile Defendants made materially false and misleading statements regarding the Companys business, operational and compliance policies, and financial results.

According to the class action complaint, the Defendants made false and/or misleading statements and/or failed to disclose that: (1) while Tactile publicly touted a $4 plus billion or $5 plus billion market opportunity, in truth, the total addressable market for Tactiles pneumatic compression devices (PCDs) was materially smaller; (2) to induce sales growth and share gains, Tactile and/or its employees were engaged in illicit and illegal sales and marketing activities in violation of applicable federal and state rules and public payer regulations; (3) the foregoing illicit and illegal sales and marketing activities increased the risk of a Medicare audit of Tactiles claims and criminal and civil liability; (4) Tactiles revenues were in part the product of unlawful conduct and, thus, unsustainable; and as a result of the foregoing, (5) the Defendants public statements, including Tactiles year-over-year revenue growth, the purported growth drivers, and the effectiveness of Tactiles internal controls over financial reporting, were materially false and misleading at all relevant times.

Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiffside law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.

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