Allscripts Securities Class Action Settlement
- If you purchased common stock in the Allscripts corporation between November 8, 2010 and April 26, 2012, you may be eligible for compensation as the result of a class action settlement.
- It is alleged that Allscripts made false statements to investors regarding the progress and possibilities of a potential merger with another company.
- If approved, this settlement will return a portion of, or the total amount of, funds that were invested in the Allscripts company.
A class action lawsuit was recently filed that alleges that Allscripts Securities made false statements to their investors and potential investors that misrepresented business proceedings. The plaintiffs accuse Allscripts of selling stock in a company while withholding information related to conditions that could influence the purchase of stock. The defendants allege that the plaintiffs knew of this information, and still made a decision to invest in the company. This would violate 20A of the Securities Exchange Act of 1934.
The proposed settlement has created a fund of nearly $10,000,000 in cash that is presently accruing interest. The balance of this fund will be paid out to the legal representation and will be spread out among class action members who filed a valid claim with the set time period. A fairness hearing will be held on July 22, 2015. At this time, a judge will look over the case and determine if the potential settlement amount is appropriate. If the settlement is approved on that date, disbursement of funds will occur in the weeks immediately after that date. Officers and directors of Allscripts are exempt from this lawsuit, and are not allowed to file a claim in these proceedings.
- Your completed, verified claim must be submitted by July 22, 2015
- A fairness hearing will be held on July 22, 2015.
You can contact Allscripts Securities Litigation, the administrator of this case, at
- Claims Administrator, c/o Gilardi & Co. LLC, P.O. Box 8040, San Rafael, CA 94912-8040
- (888) 569-1643