| 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: | |
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.
