Investigation Reminder: Barrack, Rodos & Bacine Reminds Investors in ATI Physical Therapy, Inc. …

investigation reminder barrack rodos bacine reminds investors in ati physical therapy inc that it is investigating ati for securities fraud

Sumary of Investigation Reminder: Barrack, Rodos & Bacine Reminds Investors in ATI Physical Therapy, Inc. that It is Investigating ATI for Securities Fraud:

  • Bacine reminds investors who have sustained losses in ATI Physical Therapy, Inc. (NYSE:ATIP) (“ATI” or the “Company”) that it is investigating possible securities law violations by the ATI board of directors and officers.
  • In an accompanying investor slide deck detailing the merger, ATI was forecasted to achieve $731 million in revenues and $119 million in adjusted EBITDA in 2021. Approximately three months later, on May 14, 2021, Fortress filed the deal’s definitive proxy statement, which contained the same 2021 forecasts.
  • As a result, ATI lowered its full year 2021 revenue guidance to $640 million – $670 million and adjusted EBITDA to $60 million – $70 million, which is significantly below what ATI said just two months earlier.
  • ” In a report on the earnings statement, Barrington Research pointed out, “The release also lacked a share count, a balance sheet, a cash flow statement or, for that matter, a good defense for why the company’s original guidance (which was officially maintained up until yesterday) ever made sense….
  • “ATI investors who have sustained losses are encouraged to contact Michael Toomey or Jeffrey Gittleman of Barrack Rodos &

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