SEATTLE, Feb. 27, 2020 /PRNewswire/ -- 22NW, LP ("22NW" or
"we"), one of the largest stockholders of Performant Financial
Corporation ("Performant" or the "Company") (NASDAQ: PFMT), with
ownership of approximately 6.2% of the Company's outstanding
shares, today publicly released a letter that was previously
delivered to the Board of Directors of Performant on February 24, 2020. 22NW is releasing the
letter publicly in accordance with the provisions of a certain
non-disclosure agreement that it previously entered into with the
Company in order to cleanse 22NW of material non-public information
with respect to the Company.
In response to receiving 22NW's letter, the Company claimed that
the statements therein are either "inaccurate, or based on
incomplete information that is dated." The statements included in
the letter are based on the information that 22NW received from the
Company pursuant to the non-disclosure agreement. 22NW requested
that the Company provide any specific comments that it may have to
the letter that it believes are necessary in order to correct any
alleged deficiencies because 22NW is not in possession of any such
information and cannot disclose what we do not know. The Company
failed to provide any such comments and instead issued a press
release including revised guidance on February 26, 2020.
The full text of the letter follows:
https://mma.prnewswire.com/media/1095451/PFMT_Letter.pdf
About 22NW, LP
22NW, LP is a Seattle-based
investment firm that specializes in small and microcap investments
that have multi-year investment horizons.
Contact:
Aron English
22NW, LP
(206) 227-3078
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SOURCE 22NW, LP