Lost Money in ATI Physical Therapy, Inc.?
ATI Physical Therapy, Inc. shares plunged over 41% in intraday trading on Monday, July 26, 2021 after announcing it was lowering its 2021 guidance. The Illinois-based company further warned investors it may have to record an impairment charge in Q3 that could be material. ATI had just recently gone public via a SPAC merger with Fortress Value Acquisition Corp. II in a deal that closed June 16, 2021. Gibbs Law Group is investigating a potential ATI Physical Therapy Class Action Lawsuit on behalf of investors who lost money in ATI Physical Therapy, Inc. (NYSE: ATIP).
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On Monday July 26, 2021, ATI Physical Therapy released its Q2 results and also revised its 2021 forecast downwards. Further, ATI warned investors that this forecast revision constitutes an “interim triggering event,” meaning it must analyze its potential impairment to “goodwill and tradename intangible assets.” When ATI finishes this analysis, it says it may ultimately record a material impairment charge.
ATI Physical had just recently finished its merger with Fortress Value Acquisition Corp. II on June 16, 2021. When the proposed merger was first announced on February 22, 2021, Reuters reported the deal would value the combined company at $2.5 billion.
Following news of its lowered 2021 guidance, ATI Physical Therapy’s stock price plummeted nearly 41% in intraday trading on July 26, 2021, causing significant harm to investors.
What Should ATI Physical Therapy Investors Do?
If you invested in ATI Physical Therapy, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether ATI has violated federal securities laws by providing false or misleading statements to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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