MTBC Inc
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Health Care : Health Care Technology | Small Cap BlendCompany profile

MTBC Inc., formerly Medical Transcription Billing, Corp., is a healthcare information technology company that provides an integrated suite of Web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings. The Company's offering, PracticePro, allows healthcare practices with the core software and business services on Software-as-a-Service (SaaS) platform. PracticePro includes practice management software and related tools, which facilitate the day-to-day operation of a medical practice; electronic health records (EHR), which allow its customers to qualify for government incentives; revenue cycle management (RCM) services, which include medical billing, analytics and related services, and mobile Health solutions, including smartphone applications that assist patients and healthcare providers in the provision of healthcare services. The Company offers a clearinghouse service, which allows clients to track claim status.

Closing Price
$26.60
Day's Change
-0.0891 (-0.33%)
Bid
--
Ask
--
B/A Size
--
Day's High
26.69
Day's Low
26.58
Volume
(Heavy Day)
Volume:
13,756

10-day average volume:
11,422
13,756

ADTN INVESTIGATION REMINDER: Hagens Berman Reminds ADTRAN (ADTN) Investors of Ongoing Investigation, Encourages Investors with Losses to Contact the Firm

8:03 pm ET September 23, 2019 (Globe Newswire) Print

Hagens Berman Sobol Shapiro LLP reminds investors in ADTRAN, Inc. (NASDAQ: ADTN) of the firm's investigation of possible disclosure violations.

If you invested in ADTRAN before August 14, 2019 and suffered losses or have information that may assist this investigation contact Hagens Berman:

https://www.hbsslaw.com/investor-fraud/ADTN

or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing

ADTN@hbsslaw.com.

The firm's investigation concerns the Company's accounting for its excess and obsolete inventory reserves ("E&O reserves").

On July 17, 2019, ADTRAN announced "preliminary" earnings for 2Q 2019 due to the Company's assessment of its current and previously reported E&O reserves. This news caused ADTRAN shares to plummet over 23% on July 18, 2019.

Then, on August 12, 2019, ADTRAN disclosed its inability to timely file its quarterly financial report with the SEC. The Company admitted to material weaknesses in its internal control resulting in a misstatement of the Company's previously reported E&O Reserves.

"We're focused on investors' losses and whether ADTRAN intentionally misled investors by failing to timely write off unsalable inventory," said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding ADTRAN should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email ADTN@hbsslaw.com.

About Hagens Berman

Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:

Reed Kathrein, 510-725-3000

https://ml.globenewswire.com/media/15a6baa7-9562-4c65-b9ec-90680329dcd9/small/hagens-berman-securities-press-release-jpg.jpg

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