Performant Financial Corporation (NASDAQ:PFMT) Files An 8-K Other EventsItem 8.01
Performant Financial Corporation (NASDAQ:PFMT) Files An 8-K Other Events
Other Events.
Performant Financial Corporation (the “Company”) announced in December 2016 that it had been advised by the Department of Education that the Company would not receive one of the student loan recovery contracts being awarded to unrestricted size companies. The Company filed a protest of the Department of Education’s contracting decision.
On March 29, 2017, the Government Accountability Office (GAO) reported on its website that the Company’s protest was upheld, although a written decision is not expected to be made publicly available by the GAO for several days. At this time, the Company does not know what actions the Department of Education will take in response to the GAO’s decision. The Company had been one of the Department of Education’s unrestricted student loan recovery contractors for more than 20 years until its contract expired in April 2015 during a lengthy Request for Proposal process.
About Performant Financial Corporation (NASDAQ:PFMT)
Performant Financial Corporation (Performant) provides technology-enabled recovery and related analytics services in the United States. The Company’s services identify and recover delinquent or defaulted assets and improper payments for both government and private clients in a range of markets. The Company provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes. The Company uses its technology-enabled services platform to provide recovery and analytics services in a range of markets for the identification and recovery of student loans, improper healthcare payments and delinquent state tax and federal treasury receivables. It provides recovery services to the government-supported student loan industry and its clients include the Department of Education and Guaranty Agencies, as well as private financial institutions. The Company provides recovery services related to improper payments in the healthcare market. Performant Financial Corporation (NASDAQ:PFMT) Recent Trading Information
Performant Financial Corporation (NASDAQ:PFMT) closed its last trading session up +0.60 at 2.43 with 202,368 shares trading hands.
Performant Financial Corporation (Performant) provides technology-enabled recovery and related analytics services in the United States. The Company’s services identify and recover delinquent or defaulted assets and improper payments for both government and private clients in a range of markets. The Company provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes. The Company uses its technology-enabled services platform to provide recovery and analytics services in a range of markets for the identification and recovery of student loans, improper healthcare payments and delinquent state tax and federal treasury receivables. It provides recovery services to the government-supported student loan industry and its clients include the Department of Education and Guaranty Agencies, as well as private financial institutions. The Company provides recovery services related to improper payments in the healthcare market. Performant Financial Corporation (NASDAQ:PFMT) Recent Trading Information
Performant Financial Corporation (NASDAQ:PFMT) closed its last trading session up +0.60 at 2.43 with 202,368 shares trading hands.
