SAN
DIEGO, Nov. 29, 2023 /PRNewswire/ -- DiCello
Levitt LLP announces that purchasers or acquirers of Veradigm Inc.
(NASDAQ: MDRX) common stock between February
26, 2021 and June 13, 2023,
inclusive (the "Class Period") have until January 22, 2024 to seek appointment as lead
plaintiff of the Veradigm class action lawsuit. The lawsuit charges
Veradigm and certain of its senior executive officers with
violations of the Securities Exchange Act of 1934.
If you purchased shares of Veradigm common stock between
February 26, 2021 and June 13, 2023, and suffered substantial losses
and you wish to serve as lead plaintiff in this lawsuit, you may
submit your information here:
https://dicellolevitt.com/securities/veradigm/.
You can also contact DiCello Levitt partner Brian O'Mara by calling (888) 287-9005 or at
investors@dicellolevitt.com.
The class has not been certified. Until a class is certified,
you are not represented by counsel unless you retain one. You may
select counsel of your choice. You may also remain an absent class
member and do nothing at this point. An investor's ability to share
in any potential future recovery is not dependent upon serving as
lead plaintiff.
Allegations
Veradigm is a healthcare technology company that offers
electronic health records, financial management, population health
management, and consumer solutions to U.S. healthcare
providers.
The Veradigm lawsuit alleges that, throughout the
Class Period, defendants made false and/or misleading statements
and omitted to disclose that Veradigm had: (1) overstated its
historical revenues by at least $20
million; (2) artificially inflated revenue by, among other
things, recording duplicate transactions over a more than two-year
period; (3) artificially inflated its earnings and margins and
materially misrepresented demand for Veradigm's services; (4)
failed to maintain effective internal controls over its financial
reporting; and (5) failed to comply with GAAP regarding appropriate
revenue recognition practices.
On February 28, 2023, Veradigm
revealed that it had "detected certain internal control failures
related to revenue recognition that had occurred over the prior six
quarters, resulting in a misstatement of reported revenues during
those periods," and further disclosed that the misstatement led to
a $20 million overstatement of
revenue from Q3 2021 until Q4 2022. On this news, the price
of Veradigm stock fell nearly 13% on heavy trading.
By the end of the Class Period, and following several additional
disclosures, the price of Veradigm stock had fallen to just
$11.49 per share, half the Class
Period high, causing investors to suffer substantial financial loss
and economic damage. And having received several notices of
non-compliance from the NASDAQ, Veradigm is currently in
danger of being delisted.
About DiCello Levitt
At DiCello Levitt, we are dedicated to achieving justice for our
clients through class action, business-to-business, public client,
whistleblower, personal injury, civil and human rights, and mass
tort litigation. Our lawyers are highly respected for their ability
to litigate and win cases— whether by trial, settlement, or
otherwise—for people who have suffered harm, global corporations
that have sustained significant economic losses, and public clients
seeking to protect their citizens' rights and interests. Every day,
we put our reputations—and our capital—on the line for our
clients.
DiCello Levitt has achieved top recognition as Plaintiffs Firm
of the Year and Trial Innovation Firm of the Year by the
National Law Journal, in addition to its top-tier
Chambers and Benchmark ratings. The New York
Law Journal also recently recognized DiCello Levitt as a
Distinguished Leader in trial innovation. For more information
about the Firm, including recent trial victories and case
resolutions, please visit www.dicellolevitt.com.
Attorney Advertising. Prior results do not guarantee a similar
outcome.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/dicello-levitt-llp-announces-investor-class-action-lawsuit-filed-against-veradigm-inc-nasdaq-mdrx-and-lead-plaintiff-deadline-302000018.html
SOURCE DiCello Levitt LLP