BALTIMORE, MD -- (Marketwire) -- 08/06/09 -- Brower Piven, A Professional Corporation
announces that a class action lawsuit has been commenced in the United
States District Court for the Northern District of Illinois on behalf of
purchasers of the common stock of Allscripts-Misys Healthcare Solutions,
Inc. (formerly known as Allscripts Healthcare Solutions, Inc.)
("Allscripts" or the "Company") (NASDAQ: MDRX) during the period between
May 8, 2007 and February 13, 2008, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of the Class
will be represented by the lead plaintiff and counsel chosen by the lead
plaintiff. If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff no later than October 5, 2009
and be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether to
accept a settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in the Company during the Class
Period. You may contact Brower Piven (through hoffman@browerpiven.com or
410/986-0036) to answer any questions you may have in that regard.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the Company's failure to disclose during
the Class Period that adverse and continuing delays in the installation of
it newest version of its EHR clinical software, Touchworks, version 11
("V-11") software systems occurred because Allscripts lacked the necessary
resources to install V-11 software at customer sites and had no historical
basis to estimate the timing of and impact V-11 sales might have on the
Company's 2007 revenues and earnings such that defendants had no reasonable
basis for their statements and opinions concerning Allscripts' current and
future financial performance and projections. According to the complaint,
after the Company revealed, on February 13, 2008, its actual 2007 financial
results, reporting 2007 revenue of $281.9 million or $18 million below the
Company's $300 million guidance confirmed in August 2007 and $5 million
short of their November earnings guidance revision and that V-11
installation delays were likely to negatively impact sales and earnings
well into 2008, the value of Allscripts' stock declined significantly.
If you have suffered a net loss for all transactions in Allscripts-Misys
Healthcare Solutions, Inc. common stock during the Class Period, you may
obtain additional information about this lawsuit and your ability to become
a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by
email at hoffman@browerpiven.com, by calling 410-986-0036, or at Brower
Piven, A Professional Corporation, The World Trade Center-Baltimore, 401
East Pratt Street, Suite 2525, Baltimore, Maryland 21202. Attorneys at
Brower Piven have combined experience litigating securities and class
action cases of over 40 years. If you choose to retain counsel, you may
retain Brower Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Baltimore, Maryland
410/986-0036
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