Law Offices of Howard G. Smith reminds investors that 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"), have until January 12, 2015, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit. Investors who have losses of $100,000 or more are encouraged to contact the firm for more information.

The Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose to 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 suffered losses of $100,000 or more and wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to, or visit our website at

Copyright Business Wire 2010