Levi & Korsinsky announces the commencement of a class action lawsuit in the United States District Court for the District of New Jersey on behalf of shareholders of HMS Holdings Corp. (NASDAQ : HMSY) who purchased shares between May 10, 2016 and March 2, 2017.
The complaint alleges that throughout the Class Period defendants made 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.
On March 2, 2017, the Company announced it would delay filing of its Annual Report on Form 10-K for the fiscal year ended December 31, 2016. The Company stated it needed additional time in order to "complete documentation related to the Company's previously disclosed review of its CMS reserves and related internal controls over financial reporting. In this regard, the Company's auditor has informed the Company that it has identified what it believes is a material weakness in the Company's internal controls over financial reporting related to the CMS reserves."
If you suffered a loss in HMS Holdings Corp. you have until May 2, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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