NEW YORK, March 6, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against HMS Holdings Corp. ("HMS" or the "Company") (NASDAQ: HMSY) and certain of its officers, and is on behalf of a class consisting of all persons or entities who purchased Platinum securities between May 10, 2016 through March 2, 2017, both dates inclusive (the "Class Period"). Such investors are advised to join this case by visiting the firm's site: http://www.bgandg.com/hmsy.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, and failed to disclose that: (1) HMS lacked effective internal control over financial reporting; and (2) consequently, HMS's financial statements were materially false and misleading at all relevant times.
On March 2, 2017, after market hours, HMS revealed that it would delay filing its annual report for the 2016 fiscal year, and that its 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 said that the 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 stock has dropped over 9% pre-market on March 3, 2017.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: http://www.bgandg.com/hmsy or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in HMS 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.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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