|[January 31, 2014]
Glancy Binkow & Goldberg LLP Announces Investigation of Hanger, Inc.
LOS ANGELES --(Business Wire)--
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 email@example.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
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 firstname.lastname@example.org,
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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