Faruqi & Faruqi, LLP Announces Investigation of Allscripts Healthcare Solutions, Inc.
Faruqi & Faruqi, LLP, is investigating potential securities fraud at Allscripts Healthcare Solutions, Inc. (“Allscripts” or the “Company”) (Nasdaq: MDRX).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the process of developing a unified product offering after the Company’s merger with Eclypsis was difficult and costly; (2) merger-related difficulties would cause upheaval and result in the loss of key Company personnel; and (3) substantial Company business had been destroyed by Allscripts’ inability to successfully integrate Eclypsis’ systems with its own.
On April 26, 2012, Allscripts issued operating results for the first quarter of 2012 that were well below expected forecasts. The Company also announced the termination of the Chairman of the Board and the resignation of three Company directors and the Company’s Chief Financial Officer. In light of these turbulent events, Allscripts’ stock price fell $5.72 per share, or 35.7 percent, to close at $10.30 per share on April 27, 2012.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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