SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of iCAD, Inc.
NEW YORK, May 7, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of iCAD, Inc. ("iCAD" or the "Company") (NasdaqCM: ICAD -News). Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at [email protected] or 212-697-6484.
The investigation concerns whether iCAD and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 6, 2015 The company announced that "Noridian, the Medicare Administrative Contractor in Jurisdictions E and F, which consists of 13 states primarily on the West Coast, has made recent web postings related to Coding for High Dose Rate Brachytherapy for Non-Melanoma Skin Cancers which instruct physicians to report CPT code (17999) rather than the established CPT code (0182T) for electronic brachytherapy for non-melanoma skin cancers. The Company, industry partners and physician providers have reached out to the Centers for Medicare and Medicaid Services ("CMS") and Noridian to seek clarification of the Medicare Coverage Articles posted to Noridian's web sites.
The Company is proactively addressing the situation in its dialogue with Noridian and CMS. At this point, there is insufficient clarification of the reimbursement matter to assess the potential impact that this matter could have on the Company's guidance for 2015. Any significant changes in CPT reimbursement from current levels could have a material impact on the Company's revenues."
Following this news, shares of iCAD fell $3.55 per share, or nearly 44.65%, during intraday trading to trade at $4.40 on May 7, 2015.
If you are aware of any facts relating to this investigation, or purchased shares of iCAD, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email [email protected]. Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
[email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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