ATI Physical Therapy Investor Alert: Kaplan Fox Investigates Potential Securities Fraud at ATI Physical Therapy, Inc.
NEW YORK, July 27, 2021 (GLOBE NEWSWIRE) -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of ATI Physical Therapy, Inc. (“ATI” or the “Company”) (NYSE: ATIP). On June 17, 2021, ATI announced the completion of its business combination with a special purpose acquisition company (SPAC) and started trading on the New York Stock Exchange. On July 26, 2021, ATI reported its financial results for the second quarter ended June 30, 2021. Among other things, the Company disclosed it had experienced “high levels of attrition among our therapists” and that the “labor and supply demand imbalance” in the second quarter “impeded [the Company’s] ability to meet the demand that we have while increasing our expectations for labor costs.” As a result of these factors, ATI also announced it was lowering revenue guidance for the year to be in the range of $640 million to $670 million, down from $731 million. Following this news, ATI’s stock price fell $3.62 per share, about 43.4%, to close at $4.72 per share on July 26, 2021. If you purchased or otherwise acquired ATI securities and would like to discuss our investigation, please contact us by emailing [email protected] or by calling (646) 315-9003. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this investigation, your rights, or your interests, please contact: Donald R. Hall KAPLAN FOX & KILSHEIMER LLP 850 Third Avenue, 14th Floor New York, New York 10022 (212) 329-8571 (646) 315-9003 E-mail: [email protected] Laurence D. King KAPLAN FOX & KILSHEIMER LLP 1999 Harrison Street, Suite 1560 Oakland, California 94612 (415) 772-4704 Fax: (415) 772-4707 E-mail: [email protected]
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