GlobeNewswire Inc | Oct 2, 2020 10:15AM EDT

October 02, 2020

NEW YORK, Oct. 02, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Tactile Systems Technology, Inc. (Tactile Systems or the Company) (NASDAQ: TCMD) in the United States District Court for the District of Minnesota on behalf of those who purchased or acquired the securities of Tactile Systems between May 7, 2018 and June 8, 2020, inclusive (the Class Period). The lawsuit seeks to recover damages for Tactile Systems investors under the federal securities laws.

The Complaint alleges that Defendants failed to disclose to investors that: (1) while the Company publicly touted a $4 plus billion or $5 plus billion market opportunity, in truth, the total addressable market for the Companys medical devices was materially smaller; (2) to induce sales growth and share gains, Tactile engaged in illegal sales and marketing activities; and (3) the Companys revenues were in part the product of unlawful conduct and thus unsustainable.

Investors who purchased or otherwise acquired shares of Tactile Systems during the Class Period should contact the Firm prior to the November 30, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.