HMS Holdings Receives Expected Notification from NASDAQ regarding Late Form 10-Q Filing
31 May 2017 - 6:30AM
HMS Holdings Corp. (the “Company” or “HMS”) (NASDAQ:HMSY) announced
that it received a notification letter, as expected, from the
Listing Qualifications Department of the NASDAQ Stock Market
(“NASDAQ”) on May 23, 2017 indicating that the Company is not in
compliance with NASDAQ Marketplace Rule 5250(c)(1), because it did
not timely file its Quarterly Report on Form 10-Q for the period
ended March 31, 2017 (the “2017 Q1 Form 10-Q”) with the Securities
and Exchange Commission. The Company does not expect this
notification to have any immediate effect on the continued listing
of the Company’s common stock on the NASDAQ Global Select
Market. This notification is in addition to a similar
notification letter that the Company received from NASDAQ on March
20, 2017 due to its delay in filing the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2016 (the “2016
Form 10-K”). HMS submitted a plan to NASDAQ on May 19, 2017 to
regain compliance with NASDAQ rules, which is currently under
review.
About HMS
HMS Holdings Corp., through its subsidiaries,
provides coordination of benefits, payment integrity, and health
management and engagement solutions for payers. HMS serves
state Medicaid programs; commercial health plans,
including Medicaid managed care, Medicare
Advantage and group and individual health lines of business;
federal government health agencies, including the Centers for
Medicare & Medicaid Services and the Veterans Health
Administration; government and private employers; child support
agencies; and other healthcare payers and sponsors. As a result of
HMS's services, customers recover billions of dollars annually and
save billions more through the prevention of improper
payments.
Safe Harbor Statement
This press release contains "forward-looking
statements" within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Such statements reflect our current
expectations, projections and assumptions about our business, the
economy and future events or conditions. They do not relate
strictly to historical or current facts. Forward‐looking statements
can be identified by words such as “aims,” “anticipates,”
“believes,” “estimates,” “expects,” “forecasts,” “intends,”
“likely,” “may,” “plans,” “projects,” “seeks,” “targets,” “will,”
“would,” “could,” “should,” and similar expressions and references
to guidance, although some forward-looking statements may be
expressed differently. Additional facts and the risk that the
filing of the 2017 Q1 Form 10-Q and the 2016 Form 10-K will take
longer than expected could cause actual results to differ from
those stated or implied in our forward-looking statements, as could
the other factors, risks and uncertainties described in our most
recent Annual Report on Form 10-K and in our other filings with the
Securities and Exchange Commission. Factors or events that could
cause actual results to differ may emerge from time to time and are
difficult to predict. Should known or unknown risks or
uncertainties materialize, or should underlying assumptions prove
inaccurate, actual results may differ materially from past results
and those anticipated, estimated or projected. We caution you not
to place undue reliance upon any of these forward-looking
statements. Any forward-looking statements are made as of the
date of this press release. Except as may be required by law, we
disclaim any obligation to publicly update forward-looking
statements, whether as a result of new information, future events
or otherwise.
Investor Contact:
Dennis Oakes
SVP, Investor Relations
dennis.oakes@hms.com
212-857-5786
Media Contact:
Francesca Marraro
VP, Marketing and Communications
fmarraro@hms.com
212-857-5442
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