The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders who: (a) purchased or otherwise acquired ATI Physical Therapy, Inc. f/k/a Fortress Value Acquisition Corp. II (NYSE: ATIP) securities between April 1, 2021 and July 23, 2021, inclusive and/or (b) held FVAC Class A common stock as of May 24, 2021 and were eligible to vote at FVAC’s June 15, 2021 special meeting. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
In particular, the ATI lawsuit alleges that (1) ATI was experiencing attrition among its physical therapists; (2) ATI faced increasing competition for clinicians in the labor market; (3) as a result of the foregoing, the Company faced difficulties retaining therapists and incurred increased labor costs; (4) as a result of the labor shortage, the Company would open fewer new clinics; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until October 15, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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