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Performant Financial Corporation Announces Termination of Student Loan Recovery Contract

PERFORMANT FINANCIAL (PFMT)  More Company Research Source: GlobeNewswire
Last performant financial earnings: 8/9 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investors.performantcorp.com/node/5806
PDF LIVERMORE, Calif., June 19, 2017 (GLOBE NEWSWIRE) -- Performant Financial Corporation (Nasdaq:PFMT) (“the Company”), a leading provider of technology-enabled recovery and related analytics services in the United States, today announced that one of the Company’s principal customers, Great Lakes Higher Education Guaranty Corporation (“GLHE”), notified the Company that it is terminating the Company’s student loan recovery contract. On June 15, 2017, GLHE, which recently acquired the student loan portfolio of USA Funds, advised the Company that GLHE has decided to bundle all of its outsourced student loan servicing and student loan recovery work with a single third party vendor.  The Company does not provide student loan servicing.  The Company has been told that it will have the opportunity to continue to provide some student loan recovery services to GLHE on a subcontracting basis, although the terms and scope of any such arrangement are uncertain. Richard George, CEO of Great L [Read more]

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