Citigroup to Exit Russia With Sale of AO Citibank to Renaissance Capital 
Meta Acquires AI Startup Manus to Expand Advanced AI Capabilities Across Platforms 
Boeing Secures Major $2.7 Billion U.S. Military Contract for Apache Helicopter Support 
BP’s Castrol Stake Sale Raises Debt Relief Hopes but Sparks Cash Flow Concerns 
L&F Tesla Battery Supply Deal Value Drops Sharply Amid EV Market Slowdown 
Nike Stock Rises After CEO Elliott Hill Buys $1 Million in Shares 
Samsung Electronics Secures Annual U.S. Licence for China Chip Equipment Imports in 2026 
Target Stock Rallies as Activist Interest Sparks Hopes for Strategic Change 
Lockheed Martin Secures Nearly $500 Million in U.S. and Allied Defense Contracts 
Lockheed Martin Secures $328.5 Million U.S. Defense Contract for Advanced Systems Supporting Taiwan Air Force 
ByteDance Plans Massive AI Chip Spending Boost as Nvidia Demand Grows in China 
SoftBank Completes $41 Billion OpenAI Investment in Historic AI Funding Round 
Hyundai Faces Deadline on Russia Plant Buyback Amid Ukraine War and Sanctions 
Novo Nordisk and Eli Lilly Cut Obesity Drug Prices in China as Competition Intensifies 
Applied Digital Stock Rises on AI Cloud Spinoff Plan and ChronoScale Launch 
Vanda Pharmaceuticals Wins FDA Approval for New Motion Sickness Drug After Four Decades 
Elon Musk’s xAI Expands Supercomputer Infrastructure With Third Data Center to Boost AI Training Power 
 - EconoTimes)
NEW YORK, March 06, 2017 -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against HMS Holdings Corp. (“HMS” or the “Company”) (Nasdaq:HMSY) in the United States District Court for District of New Jersey on behalf of persons or entities who purchased HMS stock on the open market from May 10, 2016 and March 2, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.
The Complaint alleges that 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, and that when the truth was revealed, investors suffered damages.
In November of 2016, HMS revealed that there “could be a material negative impact on our future revenue in future periods” in connection with disputes over the Company’s Medicare Recovery Audit Contractor, owned by HMS, and the Centers for Medicare & Medicaid Services. On this news, HMS shares fell 21.5%, causing tens of millions in losses to investors.
On March 2, 2017, HMS announced it would be unable to timely file its full-year 2016 financial results, revealing that the Company had identified a “material weakness in the Company's internal controls over financial reporting,” resulting in a stock drop of another 2.5%.
If you wish to serve as lead plaintiff, you must move the Court no later than May 2, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
