Allscripts-Misys Healthcare Solutions MDRX Securities Stock Fraud

Please click here for a free evaluation of your case

Company:	Allscripts-Misys Healthcare Solutions
Ticker Symbol:	MDRX
Class Period:	May-8-07 to Feb-13-08
Date Filed:	Aug-4-09
Lead Plaintiff Deadline:	Oct-3-09
Court:	Northern District of Illinois
Allegations:

An investor in Allscripts-Misys Healthcare Solutions has filed a proposed securities class action lawsuit the United States District Court for the Northern District of Illinois on behalf of purchasers of Allscripts-Misys Healthcare Solutions, Inc. (formerly known as Allscripts Healthcare Solutions, Inc.) common stock during the period from May 8, 2007 to February 13, 2008 against Allscripts-Misys Healthcare Solutions and others alleging violations of Federal Securities Laws.

According to the complaint the plaintiff alleges that Allscripts-Misys Healthcare Solutions and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between May 8, 2007 and February 13, 2008 materially false and misleading statements regarding Allscripts-Misys Healthcare Solutions’s business prospects. According to the complaint, during May 2007, Allscripts-Misys Healthcare Solutions went "live” with the newest version of its EHR clinical software, Touchworks, version 11 (V-11).

The complaint further alleges that Allscripts-Misys Healthcare Solutions lacked the necessary resources to install V-11 software at customer sites, that Allscripts-Misys Healthcare Solutions had no historical basis to estimate the completion of V-11 or the impact V-11 sales might have on its 2007 revenues and earnings, and that Allscripts-Misys Healthcare Solutions was currently experiencing adverse and continuing delays in the installation of V-11 software systems.

Then on February 13, 2008, Allscripts-Misys Healthcare Solutions released its actual 2007 financial results, reporting 2007 revenue of $281.9 million or $18 million below its $300 million guidance confirmed in August 2007 and $5 million short of their November earnings guidance revision. During a conference call with investors that same day, so the complaint, Allscripts-Misys Healthcare Solutions finally admitted to V-11 installation delays that were likely to negatively impact sales and earnings well into 2008. The plaintiff alleges that in response to those announcements, the price of Allscripts-Misys Healthcare Solutions common shares fell $4.12 per share, closing at $11.27 on February 14, 2008.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Allscripts-Misys Healthcare Solutions MDRX Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Allscripts-Misys Healthcare Solutions securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.

Related Law Suits

Allscripts-Misys Healthcare Solutions Law Suit and Settlement

Psychiatric Solutions Inc, PSYS Securities Fraud Law Suit and Settlement

Skilled Healthcare Group, Inc Law Suit and Settlement

Point Blank Solutions Law Suit and Settlement

Merge Healthcare Inc. Law Suit and Settlement

Opnext, Inc. Law Suit and Settlement

EnerNOC, Inc. Law Suit and Settlement

Fifth Third Bancorp Law Suit and Settlement

MRV Communications, Inc. Law Suit and Settlement

Carter’s Inc. Law Suit and Settlement

See more stories from this source.

Class Action Law Suits

Newsworthy Law Suits
Defective Products Lawsuits
Discrimination Lawsuits
Drug & Medical Claims Lawsuits
Food & Dietary Supplement Lawsuits
Insurance Lawsuits
Malpractice Lawsuits
Personal Injury Lawsuits
Real Estate Lawsuits
Investment Fraud Lawsuits

Related Law Articles

Foreign Investment and National Security Act of 2007
Strengthens examination requirements of the Committee on Foreign Investment in the United States

Employee Lawsuits (An Introduction and Topic Overview)
How employers can cope with the siege of employee lawsuits

Employee Lawsuits: Negligent Hiring and Retention
Employers must check references, criminal records, other background material.

How to Skirt H-1B Regulations
Senator reacts to YouTube video

Cell Phone Early Termination Fees
How to recover billing errors

H&R Block Retirement Plan Fraud
How to Join Class Action Suit

is===1

Related Law Questions

How can I prove my wife only married me to get a green card?
The problem with an annulment is that they are hard to get-- they are not someth...

What can be done to stop "Harry T. Keane Jr" from persuig his Entertainment Fraud Business ?
Harry Keane in the Dallas Tx area is a fraud. He cannot tell the truth. His whol...

Protection from damages from Internet advertising fraud for owners of an Incorporated company?
The "corporate veil" that ordinarily protects business owners and managers from ...

What can be done when a seller signs a contract with a buyer for a house, that states the seller has the title free and clear and will hand it over when the contract is fullfilled, but the buyer found out that wasn't tru
Most contracts are voidable when they are based in fraud, however home purchases...

Is it legal for me to tell a guy I am on the Pill so that I can get pregnant and get child support out of him?
Get real - you can't win by lieing. Child support is NOT for you it's ...

Related Law Bulletins

Summary Judgement for Dismissal of Personal Injury Lawsuits Require Establishment that Defendant didn't Create the Dangerous Condition of have actual or Constructive Notice of its Existence.
After picking up lunch from the deli counter of a local ...

Should I Sue? Examining the Complex Question and the Role Apologies Play in Medical Malpractice Lawsuits
WBUR examines the medical apologies issue: On WBUR, a Boston NPR s...

Bill Proposes to Allow Sex Abuse Victims to File Injury Lawsuits in Maryland
In Maryland, Baltimore County legislator Eric M. Bromwell has intr...

Customers voluntarily dismiss Taco John’s from E. coli lawsuits ...
Taco John's has been dismissed from a set of vicarious liability ...

U.S. Supreme Court Deals Blow to Lawsuits Against Defective Products
Last week, the U.S. Supreme Court ruled that private lawsuits agai...

Lawyers! Become an Approved Expert to Answer Questions.

Apply Now!
You'll get lots of targetted traffic to your website and new client leads!