Tactile Securities Settlement
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Welcome to the Tactile Securities Settlement Website

The Court will hold a Settlement Hearing at 10:00 a.m. (Central time), on August 23, 2023, before the Honorable Nancy E. Brasel, via Zoom at the link available here. To keep the number of video links to a manageable number, observers that wish to only watch the hearing shall participate by telephone using the following information:

Dial 1‐669‐254‐5252
Meeting ID: 160 069 0317
Passcode: 144682

This website has been established to provide general information related to the proposed settlement of the case known as Mart v. Tactile Systems Technology, Inc., et al., No. 0:20-cv-02074-NEB-DTS, pending before the United States District Court for the District of Minnesota (the "Court"). The capitalized terms used on this website, and not otherwise defined, shall have the same meanings ascribed to them in the Stipulation of Settlement (the "Stipulation") dated February 28, 2023, which can be found and downloaded by clicking on the Case Documents tab above. Your rights may be affected if you purchased or otherwise acquired Tactile Systems Technology, Inc. ("Tactile") publicly traded securities during the period from May 7, 2018 through and including June 8, 2020 (the “Class Period”).

The Court ordered that the law firm of Robbins Geller Rudman & Dowd LLP represents the Class Members, including you. These lawyers are called Lead Counsel. If you want to be represented by your own lawyer, you may hire one at your own expense.


As more fully described in the Notice of Pendency and Proposed Settlement of Class Action (the "Notice"), Lead Plaintiff filed its Amended Class Action Complaint on April 19, 2021. Lead Plaintiff alleges that Defendants violated §§10(b), 20(a), and 20A of the Securities Exchange Act of 1934 (the “Exchange Act”). More specifically, Lead Plaintiff alleges that, throughout the Class Period, Defendants made materially false and misleading statements, and/or failed to disclose adverse information regarding Tactile’s business and operations, and/or engaged in fraudulent schemes and misconduct. More specifically, Lead Plaintiff alleges that: (i) to induce sales growth of Tactile’s advanced pneumatic compression devices (“PCDs”), Tactile and/or its employees were engaged in illicit sales and marketing activities involving kickback schemes and the submission of false claims to federal healthcare programs in violation of applicable federal statutes; (ii) Tactile’s revenues were in part the product of unlawful conduct and were thus unsustainable; (iii) while Tactile publicly touted a $4 plus or $5 plus billion market opportunity for its advanced PCDs, in truth, the total addressable market was at least three times smaller; (iv) Tactile overstated its revenue from the Department of Veterans Affairs and the Center for Medicare & Medicaid Services; and (v) as a consequence, Defendants’ fraudulent misconduct and false and misleading public statements caused Tactile securities to trade at artificially inflated prices during the Class Period until the true nature of Defendants’ alleged wrongdoing was disclosed, and the prices of Tactile securities fell, causing damages to Lead Plaintiff and other Members of the Class. Defendants deny the Complaint’s allegations and contend that they did not violate the Exchange Act.

The Settling Parties participated in a confidential mediation with Michelle Yoshida, Esq. of Phillips ADR Enterprises, an experienced mediator. The Settling Parties engaged in good faith negotiations, but did not reach a settlement. The Settling Parties continued to engage in arm’s-length negotiations and ultimately reached an agreement in principle to resolve the Litigation.


The Settlement, if approved, will result in the creation of a cash settlement fund of $5,000,000 (the “Settlement Amount”). The Settlement Amount, plus accrued interest (the “Settlement Fund”) and minus the costs of the Notice and all costs associated with the administration of the Settlement, as well as any attorneys’ fees and expenses that may be approved by the Court (the “Net Settlement Fund”), will be distributed to eligible Class Members pursuant to the Plan of Allocation that is described in the Notice.


Although the information in this website is intended to assist you, it does not replace the information contained in the Notice and Stipulation, both of which can be found and downloaded by clicking on the Case Documents tab above. We recommend that you read the Notice and other relevant case documents carefully. You may also wish to read the answers to Frequently Asked Questions provided on this website.



The only way to be eligible to receive a payment from the Settlement. Proof of Claim forms must be postmarked or submitted online on or before August 23, 2023.


Get no payment. This is the only option that potentially allows you to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement. Should you elect to exclude yourself from the Class you should understand that Defendants and the other Released Defendant Parties will have the right to assert any and all defenses they may have to any claims that you may seek to assert, including, without limitation, the defense that any such claims are untimely under applicable statutes of limitations and statutes of repose. Exclusions must be postmarked on or before August 2, 2023.


Write to the Court about why you do not like the Settlement, the Plan of Allocation, and/or the request for attorneys’ fees and expenses. You will still be a Member of the Class. Objections must be received by the Court and counsel on or before August 2, 2023. If you submit a written objection, you may (but do not have to) attend the hearing.


Ask to speak in Court about the fairness of the Settlement. Requests to speak must be received by the Court and counsel on or before August 2, 2023.


Receive no payment. You will, however, still be a Member of the Class, which means that you give up your right to ever be part of any other lawsuit against the Defendants or any other Released Defendant Parties about the legal claims being resolved by this Settlement and you will be bound by any judgments or orders entered by the Court in the Litigation.


Submit Proof of Claim: August 23, 2023
Request Exclusion: August 2, 2023
Submit Written Objection: August 2, 2023
Submit Notice of Intention to Appear: August 2, 2023
Settlement Hearing: August 23, 2023, at 10:00 a.m.