Tostrud Law Group, P.C. Announces The Filing Of A Securities Class Action On Behalf of HMS Holdings Corp. Investors
March 14 2017 - 12:42PM
Business Wire
Tostrud Law Group, P.C. announces the filing of a class action
lawsuit on behalf of investors who acquired HMS Holdings Corp.
("HMS" or the "Company") (NASDAQ: HMSY) securities between May
10, 2016 and March 2, 2017, inclusive (the “Class Period”). HMS
investors have until May 2, 2017 to file a lead
plaintiff motion. Injured investors are encouraged to contact Jon
Tostrud, Esq. to discuss their legal rights.
On March 2, 2017, the Company revealed that it would not file
its fiscal year 2016 Form 10-K on time, and that the Company’s
auditor had identified what it believed was a material weakness in
the Company’s internal controls over financial reporting related to
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.” On this news, the Company’s share
price fell, thereby injuring investors.
The complaint filed in this class action alleges that throughout
the class period Defendants issued materially false and/or
misleading statements and/or failed to disclose that: (1) HMS
lacked effective internal control over financial reporting; and (2)
as a result, HMS’s financial statements were materially false and
misleading at all relevant times.
HMS investors have until May 2, 2017 to move the Court to
appoint you as lead plaintiff if you meet certain legal
requirements. If you have information or would like to learn more
about these claims, or if you wish to discuss these matters or have
any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Jon
Tostrud, Esquire, of Tostrud Law Group, P.C., 1925 Century Park
East, Suite 2125, Los Angeles, California 90067, at (310) 278-2600
or by e-mail at jtostrud@tostrudlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20170314006233/en/
Tostrud Law Group, P.C.Jon Tostrud, Esq.(310)
278-2600jtostrud@tostrudlaw.comwww.tostrudlaw.com
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