LOS ANGELES, CA / ACCESSWIRE / April 25, 2017 / Lundin Law PC , a shareholder rights firm, announces the filing of a class action lawsuit against HMS Holdings Corp. ("HMS" or the "Company") (HMSY) concerning possible violations of federal securities laws between May 10, 2016 and March 2, 2017 inclusive (the "Class Period"). Investors who purchased or otherwise acquired the Company's shares during the Class Period should contact the firm prior to the May 2, 2017 lead plaintiff motion deadline.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
The Complaint states that during the Class Period, HMS made false and/or misleading statements and/or failed to disclose that the Company lacked effective internal control over financial reporting and as a result, its financial statements were materially false and misleading at all relevant times. On March 2, 2017, HMS 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." When this information reached the public, the value of HMS shares declined materially, which caused investors harm according to the Complaint.
Lundin Law PC was established by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE: Lundin Law PC