| COMPANY |
Veradigm Inc. |
| COURT |
United States District Court for the Northern District of Illinois |
| CASE NUMBER |
23-cv-16205 |
| JUDGE |
The Hon. Lindsay Clayton Jenkins |
| CLASS PERIOD |
February 26, 2021 through December 7, 2023 |
| SECURITY TYPE |
Common Stock |
Case Background:
This is a class action lawsuit on behalf of those who purchased or acquired Veradigm Inc. (“Veradigm”) (NASDAQ: MDRX) common stock between February 26, 2021 and December 7, 2023, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, Defendants misrepresented and/or failed to disclose that: (1) Veradigm had overstated its historical revenues by at least $20 million; (2) Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period; (3) Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for Veradigm’s products and services; (4) Veradigm had failed to maintain effective internal control over its financial reporting; and (5) Veradigm had failed to comply with Generally Accepted Accounting Principles (“GAAP”) regarding appropriate revenue recognition practices; and (6) as a result, Defendants’ statements about the company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On March 1, 2024, The Court granted Motion to Appoint Lead Plaintiff and Approve Lead Counsel. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.