The Gross Law Firm notifies investors that a class action has commenced in the United States District Court for the Northern District of Illinois on behalf of shareholders of Veradigm Inc. who purchased common stock between February 26, 2021 and June 13, 2023.
The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (a) Veradigm had overstated its historical revenues by at least $20 million; (b) Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period; (c) Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for the Company’s products and services during the class period; (d) Veradigm had failed to maintain effective internal controls over its financial reporting; (e) Veradigm had failed to comply with Generally Accepted Accounting Principles (“GAAP”) regarding appropriate revenue recognition practices; and (f) as a result of the foregoing, the Company’s financial projections were materially false and misleading and lacked any reasonable basis.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 22, 2024 to request that the court appoint them lead plaintiff.
To receive more information, please fill out the form.
