San Diego, CA -- (SBWIRE) -- 03/09/2017 -- An investor, who purchased shares of HMS Holdings Corp (NASDAQ:HMSY), filed a lawsuit in New Jersey over alleged Securities Laws violations by HMS Holdings Corp in connection with certain allegedly false and misleading statements.

Investors who purchased shares of HMS Holdings Corp (NASDAQ:HMSY) have certain options and for certain investors are short and strict deadlines running. Deadline: May 2, 2017. NASDAQ:HMSY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff claims that between May 10, 2016 and March 2, 2017, the defendants made false and/or misleading statements and/or failed to disclose that HMS lacked effective internal control over financial reporting, and that as a result, HMS's financial statements were materially false and misleading at all relevant times.

On March 2, 2017, HMS Holdings Corp revealed during aftermarket hours that it would not file its fiscal year 2016 Form 10-K on time and that HMS Holdings' auditor believes it has identified a material weakness in HMS Holdings' internal controls over financial reporting related to CMS reserves. HMS Holdings Corp also disclosed that 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."

Shares of HMS Holdings Corp (NASDAQ:HMSY) declined on March 3, 2017 to as low as $17.72 per share.

Those who purchased shares of HMS Holdings Corp have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com