According to the lawsuit, defendants made materially false and misleading statements and/or failed to disclose that:
- Veradigm had overstated its historical revenues by at least $20 million;
- Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period;
- Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for Veradigm’s products and services during the class period;
- Veradigm had failed to maintain effective internal controls over its financial reporting;
- Veradigm had failed to comply with Generally Accepted Accounting Principles (“GAAP”) regarding appropriate revenue recognition practices; and
- as a result of the foregoing, Veradigm’s financial projections were materially false and misleading and lacked any reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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