NEW YORK, June 25, 2012 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Northern District of Illinois on behalf of investors who purchased Allscripts Healthcare Solutions, Inc. (Nasdaq: MDRX) securities between November 9, 2010 and April 26, 2012.
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The Complaint alleges that defendants concealed from the investing public that: (a) the process of developing a unified product offering after the Merger had suffered debilitating setbacks which ultimately resulted in the loss of key personnel and harmful upheaval in Company leadership; (b) a material portion of Allscripts' revenue and net income was based on the successful integration of these systems and substantial business relationships had been destroyed by the inability to make material progress in this area; and (c) as a result, Allscripts lacked a reasonable basis for its claims of progress in post-Merger integration and continued growth.On April 26, 2012, the Company announced that results for the 2012 Q1 were well below expected forecasts and announced the termination of the Chairman of its Board and the resignation of three Company directors and the Chief Financial Officer. In reaction, Allscripts' stock price fell $5.72 per share, or 35.7 percent, to close at $10.30 per share on April 27, 2012. If you suffered a loss in Allscripts, you have until July 2, 2012 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/allscripts-healthcare-solutions. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com