NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. is investigating potential claims against HMS Holdings Corp. (NASDAQ:HMSY). Our investigation concerns potential violations of the federal securities laws.
On November 9, 2016, HMS revealed that there could be a material negative impact on the Company’s future revenue due to disputes over the Company’s Medicare Recovery Audit Contractor contract with the Centers for Medicare & Medicaid Services (“CMS”).
Following this news, HMS shares fell $4.61 per share, or approximately 21.5%, to close at $16.80 per share on November 9, 2016.
On March 2, 2017, HMS filed a Form NT 10-K with the U.S. Securities & Exchange Commission, stating that the Company would postpone the filing of its 2016 annual report and that the Company has identified a material weakness in its internal controls over financial reporting related to the CMS reserves. HMS also stated that it is “continuing to evaluate whether this issue affects its consolidated financial results, primarily focusing on prior periods in which revenue relating to the CMS business was recorded.”
Following this news, HMS shares fell $0.47 per share, or approximately 2.5%, to close at $18.50 per share on March 3, 2017.
If you purchased or otherwise acquired HMS securities and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact J. Brandon Walker, Esq. by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into HMS, please go to www.bespc.com/hmsy. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.