NEW YORK (Legal Newsline) - A stockholder has filed a class action lawsuit against a Houston physical therapy business, alleging violation of federal law.
Maura Culhane filed a complaint, individually and on behalf of all others similarly situated, March 31 in the U.S. District Court for the Southern District of New York against U.S. Physical Therapy Inc. and board members Christopher J. Reading, Lawrence W. McAfee and Jon C. Bates.
Culhane alleges they made false and misleading statements regarding the financial position of the company.
According to the complaint, Culhane was misled into purchasing securities at artificially inflated prices. The plaintiff alleges the defendants issued false and misleading information in order to artificially inflate securities prices.
Culhane seeks trial by jury, compensatory damages for herself and the class, all damages, cost and court expenses, counsel fees, expert fees and all other just and proper relief.
She is represented by attorneys Lesley F. Portnoy of Glancy Prongay & Murray LLP in New York and Lionel Z. Glancy, Robert Prongay, Casey Sadler and Charles H. Linehan of Glancy Prongay & Murray in Los Angeles.
U.S. District Court for the Southern District of New York Case number 1:17-cv-02347-NRB.