SAN DIEGO, CA / ACCESSWIRE / September 10, 2021 / Robbins Geller Rudman & Dowd LLP announces that: (a) purchasers or acquirers of ATI Physical Treatment, Inc. f/k/a Fortress Value Acquisition Corp. II (“FVAC”) (NYSE:ATIP) securities concerning April 1, 2021 and July 23, 2021, each dates inclusive (the “Class Period of time”) and/or (b) holders of FVAC Class A typical inventory as of May possibly 24, 2021 who were suitable to vote at FVAC’s June 15, 2021 distinctive meeting have till Oct 15, 2021 to seek out appointment as direct plaintiff in the ATI Physical Treatment course motion lawsuit. The ATI Actual physical Remedy course action lawsuit (Burbige v. ATI Actual physical Treatment, Inc. f/k/a Fortress Value Acquisition Corp. II, No. 21-cv-04349) prices ATI Actual physical Treatment and sure of its and FVAC’s top rated executives and administrators with violations of the Securities Exchange Act of 1934. The ATI Actual physical Remedy class motion lawsuit was commenced on August 16, 2021 and is pending in the Northern District of Illinois.
If you would like to provide as guide plaintiff of the ATI Actual physical Remedy course motion lawsuit, you should offer your details by clicking right here. You can also speak to attorney J.C. Sanchez of Robbins Geller by contacting 800/449-4900 or by means of e-mail at [email protected]. Lead plaintiff motions for the ATI Physical Treatment course action lawsuit ought to be submitted with the court no later on than October 15, 2021.
Case ALLEGATIONS: FVAC was a specific objective acquisition corporation (“SPAC” or “blank examine business”) fashioned for the purpose of effecting a merger, capital inventory exchange, asset acquisition, stock purchase, reorganization, or very similar business enterprise combination with one or a lot more enterprises. ATI Bodily Treatment is an outpatient bodily treatment firm that owns and operates almost 90 bodily treatment clinics across 25 states. On June 17, 2021, ATI Physical Remedy became public by using a small business mix with FVAC.
The ATI Physical Treatment class action lawsuit alleges that, during the Course Period, defendants designed wrong and misleading statements and unsuccessful to disclose that: (i) ATI Physical Therapy was enduring attrition among its bodily therapists (ii) ATI Physical Treatment faced growing competition for clinicians in the labor industry (iii) as a final result, ATI Bodily Treatment confronted challenges retaining therapists and incurred greater labor expenses (iv) provided the labor shortage, ATI Physical Therapy would open up fewer new clinics and (v) therefore, defendants’ positive statements about ATI Actual physical Therapy’s business enterprise, operations, and prospects were materially deceptive and/or lacked a acceptable foundation.
On July 26, 2021, ATI Physical Treatment reported its monetary benefits for the 2nd quarter of 2021, the period in which the business enterprise blend was accomplished. Among the other points, ATI Actual physical Remedy reported that “the acceleration of attrition among the [its] therapists in the 2nd quarter and continuing into the third quarter, mixed with the intensifying levels of competition for clinicians in the labor industry, prevented us from being capable to satisfy the demand we have and increased our expectations for labor prices.” Though ATI Actual physical Remedy was employing specific remedial actions, ATI Physical Remedy reduced its fiscal 2021 forecast because of to the foregoing components. On this information, ATI Physical Therapy’s share cost fell 43%. ATI Bodily Therapy’s share cost ongoing to drop the next trading session by as much as 19%, additional harmful traders.
Robbins Geller Rudman & Dowd LLP has launched a focused SPAC Endeavor Drive to shield buyers in blank examine organizations and find redress for corporate malfeasance. Comprised of professional litigators, investigators, and forensic accountants, the SPAC Process Drive is committed to rooting out and prosecuting fraud on behalf of injured SPAC traders. The increase in blank verify funding poses distinctive risks to buyers. Robbins Geller Rudman & Dowd LLP’s SPAC Task Power signifies the vanguard of guaranteeing integrity, honesty, and justice in this speedily acquiring financial commitment arena.
THE Direct PLAINTIFF Method: The Non-public Securities Litigation Reform Act of 1995 permits any investor who: (a) ordered ATI Physical Treatment securities throughout the Class Interval and/or (b) held FVAC Course A frequent stock as of May 24, 2021 and were suitable to vote at FVAC’s June 15, 2021 specific meeting to look for appointment as direct plaintiff in the ATI Physical Therapy class motion lawsuit. A guide plaintiff is frequently the movant with the best economical interest in the reduction sought by the putative class who is also normal and suitable of the putative course. A guide plaintiff acts on behalf of all other course users in directing the ATI Bodily Therapy class action lawsuit. The guide plaintiff can decide on a law agency of its alternative to litigate the ATI Actual physical Therapy course motion lawsuit. An investor’s means to share in any prospective upcoming restoration of the ATI Actual physical Remedy class action lawsuit is not dependent upon serving as guide plaintiff.
ABOUT ROBBINS GELLER RUDMAN & DOWD LLP: With 200 attorneys in 9 workplaces nationwide, Robbins Geller Rudman & Dowd LLP is the most significant U.S. legislation company symbolizing buyers in securities class steps. Robbins Geller lawyers have attained quite a few of the largest shareholder recoveries in history, together with the premier securities course motion recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. The 2020 ISS Securities Class Motion Solutions Prime 50 Report ranked Robbins Geller 1st for recovering $1.6 billion for buyers last yr, much more than double the volume recovered by any other securities plaintiffs’ firm. Please pay a visit to http://www.rgrdlaw.com for extra details.
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