On June 16, 2021, ATI completed its business combination with Fortress Value Acquisition Corp. II (“FVAC II”), a special purpose acquisition company (“SPAC”).
Then on July 26, 2021, ATI reported its financial results for the second quarter of 2021. The Company reduced its fiscal 2021 guidance due to “the acceleration of attrition among [its] therapists in the second quarter and continuing into the third quarter.”
On this news, the Company’s share price fell $3.62, or 43%, to close at $4.72 per share on July 26, 2021, damaging investors.
Attorney Advertising. Prior results do not guarantee a similar outcome.