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TMCNet:  Glancy Binkow & Goldberg LLP Announces Investigation of Hanger, Inc.

[January 31, 2014]

Glancy Binkow & Goldberg LLP Announces Investigation of Hanger, Inc.

LOS ANGELES --(Business Wire)--

Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of Hanger, Inc. ("Hanger" or the "Company") (NYSE:HGR) concerning possible violations of federal securities laws. The investigation is focused on certain statements issued by Hanger concerning the Company's operations and financial performance.

Please contact us at (212) 682-5340, Toll-Free at (888) 773-9224, or at shareholders@glancylaw.com to discuss this matter. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

Hanger provides orthotic and prosthetic (O&P) patient care services, distributes O&P devices and components, manages O&P networks and offers therapeutic solutions in the United States. The investigation is related to Hanger's January 30, 2014, announcement of preliminary financial results for fiscal year 2013 and hat the Company anticipates adjusted diluted earnings per share for that period to be between $1.94 and $1.96, which is below the Company's previously issued guidance provided on October 29, 2013, for adjusted earnings per diluted share in the range of $2.08 to $2.11. According to the Company: "The lower than anticipated earnings in the fourth quarter of 2013 were principally the result of operational issues isolated to a small non-clinic unit within the Patient Care segment. The impact of the unit's operational issues was identified during the quarter end close process through the annual physical inventory valuation and analysis of changes in collection trends."


The Company previously disclosed, in a Form 10-Q filed November 8, 2013 with the Securities and Exchange Commission, that during third quarter 2013 the Company corrected an error in the classification of certain components of bad debt expense. According to the Form 10-Q, "Hanger previously classified the reserves related to the write-off of older accounts receivable balances due from commercial and government payors as bad debt expense, which was reported as Other Operating Expense in its financial statements, instead of as a reduction of sales."

If you purchased Hanger shares, if you have information or would like to learn more about these claims, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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