HMS HOLDINGS CORP. (NASDAQ:HMSY) Files An 8-K Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of ListingItem 3.01
On March 20, 2017, HMS Holdings Corp. (the “Company”) received a notification letter from the Listing Qualifications Department of the NASDAQ Stock Market LLC (“NASDAQ”), stating that because the Company has not yet filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2016 (the “2016 Form 10-K”), the Company is no longer in compliance with NASDAQ Marketplace Rule 5250(c)(1), which requires timely filing of periodic reports with the Securities and Exchange Commission. The NASDAQ notification letter has no immediate effect on the continued listing of the Company’s common stock on the NASDAQ Global Select Market.
Under the NASDAQ Marketplace Rules, the Company has until May 19, 2017, to submit a plan to NASDAQ setting forth how it plans to regain compliance with NASDAQ’s continued listing requirements. If the Company is unable to file its 2016 Form 10-K by May 19, 2017, then the Company intends to submit a compliance plan on or prior to that date. The Company does not currently expect submission of a compliance plan will be necessary as it anticipates filing its Form 10-K for the year ended December 31, 2016 before May 19, 2017.
If submission of a compliance plan is necessary and NASDAQ accepts the Company’s plan, NASDAQ can grant an exception of up to 180 calendar days from the filing’s due date to regain compliance. The Company may regain compliance at any time during this 180-day period upon filing its 2016 Form 10-K with the Securities and Exchange Commission, as well as all subsequent required periodic financial reports that are due within that period. If NASDAQ does not accept the Company’s plan, the Company will have the opportunity to appeal that decision to a NASDAQ Hearings Panel.
About HMS HOLDINGS CORP. (NASDAQ:HMSY)
HMS Holdings Corp. is a holding company. The Company, through its subsidiaries, operates in the United States healthcare insurance benefit cost containment marketplace. It provides coordination of benefits services to government, and private healthcare payers and sponsors. Its payment integrity services ensure that healthcare claims billed are accurate and appropriate. It offers services to state Medicaid agencies, government health agencies and health plans, including Medicaid managed care, Medicare Advantage and group and individual health lines of business; government and private employers; and other healthcare payers and sponsors, including child support agencies. It serves approximately 45 state Medicaid programs and the District of Columbia, and government health agencies, including Centers for Medicare & Medicaid Services (CMS) and the Veterans Health Administration (VHA). It also provides services to approximately 250 health plans and supports their multiple lines of business. HMS HOLDINGS CORP. (NASDAQ:HMSY) Recent Trading Information
HMS HOLDINGS CORP. (NASDAQ:HMSY) closed its last trading session down -0.22 at 17.91 with 218,973 shares trading hands.
