New York, New York--(Newsfile Corp. - July 27, 2021) -  Wolf Popper LLP is investigating potential securities fraud claims on behalf of purchasers of ATI Physical Therapy, Inc. common stock (NYSE: ATIP).

On February 22, 2021, Fortress Value Acquisition Corp. II, a special purpose acquisition company, issued a press release announcing that it had entered into a merger agreement with ATI Physical Therapy, Inc. In an accompanying investor slide deck detailing the merger, ATI Physical Therapy, Inc. was forecasted to achieve $731 million in revenues and $119 million in adjusted EBITDA in 2021. Approximately three months later, on May 14, 2021, Fortress filed the deal's definitive proxy statement, which contained the same 2021 forecasts. On June 15, 2021, Fortress shareholders approved the deal.

On July 26, 2021, ATI Physical Therapy reported its financial results for the second quarter of 2021. ATI Physical Therapy management said therapist attrition combined with a competitive hiring market for therapists had negatively impacted the business. As a result, ATI Physical Therapy lowered its full year 2021 revenue guidance to $640 million - $670 million and adjusted EBITDA to $60 million - $70 million, which is significantly below what ATI Physical Therapy said just two months earlier. In addition, ATI Physical Therapy said it would only open 55 - 65 clinics in 2021 instead of 90.

Following this news, ATI Physical Therapy's shares fell over 43% and closed at $4.72 per share on July 26, 2021.

Investors who have lost over $50,000 trading in ATI Physical Therapy common stock and who would like to discuss the investigation should contact Robert Finkel at (212) 451-9620, or rfinkel@wolfpopper.com.

Wolf Popper has successfully recovered billions of dollars for defrauded investors. Wolf Popper's reputation and expertise have been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. For more information about Wolf Popper, please visit the Firm's website at www.wolfpopper.com.

Attorney Advertising: Prior Results Do Not Guarantee A Similar Outcome.

Wolf Popper LLP
Robert C. Finkel
845 Third Avenue
New York, NY 10022
Tel.: (212) 451-9620
Email: rfinkel@wolfpopper.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91357