GlobeNewswire Inc | Nov 20, 2020 04:23PM EST

November 20, 2020

NEW YORK, Nov. 20, 2020 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP reminds investors that a class action lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of those who acquired Tactile Systems Technology, Inc. (Tactile or the Company) (NASDAQ: TCMD) securities during the period from May 7, 2018 through June 8, 2020 (the Class Period). Investors have until November 30, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.

The complaint alleges that throughout the class period Defendants issued materially 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 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 that as a result of the foregoing, (5) 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.

If you acquired Tactile securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney is a New York-based plaintiffs law firm concentrating in securities, antitrust, and whistleblower litigation. The firms efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerneys website: www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Contacts

Kirby McInerney LLPThomas W. Elrod, Esq., (212) 371-6600investigations@kmllp.comwww.kmllp.com