Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Quality Systems, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Quality Systems, Inc. (“QSI” or the “Company”) (NASDAQ: QSII) of the January 21, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against QSI and certain executives.
A complaint has been filed on behalf of all persons who purchased QSI securities between May 26, 2011 and July 25, 2012, inclusive (the “Class Period”) in the Central District of California.
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, opportunities, and prospects.
Specifically, the action alleges that throughout the Class Period the Company and senior executives made a series of false and misleading statements concerning the Company’s strong growth prospects and earnings guidance for the fiscal years 2012 and 2013, including issuing “bullish” annual growth rates for its earnings per share.
On May 7, 2012, the market was warned that QSI had greatly missed guidance when the CEO disclosed that the Company was experiencing delays in closing sales. On this news, the Company’s stock declined $6.00 per share, or nearly 17%, to close at $30.99 per share on May 8, 2012 on heavy volume.
On July 26, 2012, the Company announced that its earnings per share had abruptly declined causing it to retract its positive guidance confirmed only three days earlier. Following this news, the Company’s stock declined an additional $7.68 per share, or nearly 33%, to close at $15.95 per share on July 26, 2012 on heavy volume.
If you invested in QSI stock or options between May 26, 2011 and July 25, 2012 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding QSI’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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