Lawsuit Overview
Settlement Overview
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July 22, 2015 - The court approved the settlement and entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissing the action with prejudice.
April 9, 2015 - The court preliminarily approved the settlement.
April 2, 2015 - Parties filed a stipulation of settlement.
May 28, 2013 - The defendants filed a motion to dismiss.
May 15, 2013 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) common shares between November 8, 2010, and April 26, 2012. The plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between November 8, 2010, and April 26, 2012.
May 15, 2013 - The court denied defendants' motion to dismiss as moot with leave to file an amended complaint.
March 14, 2013 - Defendants filed a motion to dismiss.
January 10, 2013 - The lead plaintiffs filed an amended complaint on behalf of investors who purchased Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) common shares between November 8, 2010, and April 26, 2012. The plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between November 8, 2010, and April 26, 2012.
November 9, 2012 - Lead plaintiff and lead counsel were appointed.
July 2, 2012 - Lead plaintiff motions were filed.
May 2, 2012 - An investor in shares of Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) filed a lawsuit in the U.S. District Court for the Northern District of Illinois against Allscripts Healthcare Solutions Inc over alleged Violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 9, 2010 and April 26, 2012.
According to the complaint the plaintiff alleges on behalf of purchasers of Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) common stock between November 9, 2010, and April 26, 2012, that Allscripts Healthcare Solutions Inc and certain of its officers violated the Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. Specifically, the plaintiff alleges that Allscripts Healthcare Solutions Inc which was formed from the merger of Allscripts-Misys Healthcare Solutions Inc and Eclypsis Corporation in August 2010, allegedly misrepresented its progress in integrating Allscripts Healthcare Solutions Inc's and Eclypsis Corporation's disparate systems and Allscripts Healthcare Solutions Inc's ability to translate its fragmented product lines into revenues.
Allscripts Healthcare Solutions Inc reported that its Total Revenue rose from $548.44 million for a 12 months period ending on May 31, 2009 to $1.44 billion for the 12 months period ending on December 31, 2011 and its Net income rose for the respective time period from $26.02 million to $73.61 million.
Shares of Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) rose from $4.87 per share on October 24, 2008 to as high as $22.41 per share in April 2010.
On June 9, 2010, and Eclipsys Corporation (NASDAQ: ECLP) and Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) announced an agreement to merge in an all-stock transaction valued at approximately $1.3 billion under which Eclipsys Corporation stockholders (ECLP) will receive 1.2 shares of Allscripts Healthcare Solutions Inc for each share of Eclipsys Corporation.
Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) shares fell in mid-2010 to slightly under $16 per share but climbed in the first half of 2011 to over $22 per share.
On April 26, 2012 Allscripts Healthcare Solutions Inc announced its First Quarter 2012 financial results. Among other things, Allscripts Healthcare Solutions Inc, also announced that its CFO has decided to leave Allscripts Healthcare Solutions Inc and that its Chairman of the Board, director and officer of Allscripts Healthcare Solutions Inc has been terminated.
Shares of Allscripts Healthcare Solutions Inc (NASDAQ: MDRX) fell from $16.02 per share on April 26, 2012 to as low as $9.06 per share on Friday April 27, 2012.