Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In iCAD, Inc. (ICAD) To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at iCAD, Inc. (“iCAD” or the “Company”) (NasdaqCM: ICAD).
On May 6, 2015, the Company announced “that Noridian, the Medicare Administrative Contractor in . . . 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 the incorrect CPT code.
iCAD advised that it 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, the price of iCAD stock declined by $3.32, or over 40%, to close at $4.63 on May 7, 2015.
If you invested in iCAD stock or options would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding iCAD’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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