U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Files An 8-K Other Events
ME Staff 8-k
U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) Files An 8-K Other EventsItem 8.01 Other Event.
As previously disclosed, on March 31, 2017, an alleged shareholder filed a putative class action lawsuit in the United States District Court for the Southern District of New York (the "Court") against the Company and certain officers, alleging that the defendants misstated or omitted to state material information concerning the Company's historical accounting for redeemable non-controlling interests of acquired partnerships, in alleged violation of Sections 10(b) and 20(a) of the Exchange Act. On December 1, 2017, the Company filed a Motion to Dismiss and subsequent filings by the parties related to the Motion to Dismiss were completed on February 7, 2018.
On July 23, 2018, the Court issued a Memorandum and Order granting the Company's Motion to Dismiss in its entirety, with prejudice.
Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS
None
About U.S. PHYSICAL THERAPY, INC. (NYSE:USPH) U.S. Physical Therapy, Inc., through its subsidiaries, operates outpatient physical therapy clinics that provide pre-and post-operative care, and treatment for orthopedic-related disorders, sports-related injuries, preventative care, rehabilitation of injured workers and neurological-related injuries. The Company’s segment is made up of various clinics within partnerships. The Company primarily operates through subsidiary clinic partnerships, in which it owns a general partnership interest and a limited partnership interest, and the managing therapists of the clinics owns the remaining limited partnership interest in the clinics. The Company operates approximately 510 clinics in over 40 states. There are approximately 380 clinics operated under Clinic Partnerships and over 100 operated as Company-owned Facilities. In addition to its owned clinics, it also manages physical therapy facilities for third parties, primarily physicians, with over 20 third-party facilities under management.
