Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Western District of Texas on behalf of a class (the "Class") comprising purchasers of the securities of Hanger, Inc. ("Hanger" or the "Company") (NYSE:HGR) between August 1, 2013 and August 7, 2014, inclusive (the "Class Period"). Please contact Lesley Portnoy or Casey Sadler at (888) 773-9224 or (310) 201-9150, or at firstname.lastname@example.org 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 Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose material adverse facts concerning the Company's business and financial performance and prospects. On August 7, 2014, the Company announced that Hanger's earnings per share decreased approximately 23% and the Company anticipated lower earnings per share than previously estimated for fiscal 2014, due to an increase in audits of its Medicare reimbursement claims. The Company further disclosed that its accounts receivable over 120 days had increased by $14 million year-over-year, due to increased Medicare audits, and that the Company's operating costs had increased $8 million for the year, $4.2 million of which was attributable to an increase in bad debt. Following this news, Hanger shares declined 25%, or $7.39 per share, to close at $22.48 per share on August 8, 2014, on unusually heavy volume. If you are a member of the Class described above, you may move the Court no later than January 12, 2015, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, or Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to email@example.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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