LEGAL GUIDES FOR INVESTORS
If you suffered losses in Veradigm stock, contact Veradigm stock loss lawyer Timothy L. Miles about a Veradigm class action lawsuit
INTRODUCTION TO THE VERADIGM CLASS ACTION LAWSUIT
The Veradigm class action lawsuit seeks to represent purchasers of Veradigm Inc. (NASDAQ: MDRX) common stock between February 26, 2021 and June 13, 2023, inclusive (the “Class Period”). Captioned Erwin v. Veradigm Inc., No. 23-cv-16205 (N.D. Ill.), the Veradigm class action lawsuit charges Veradigm and certain of its current and former top executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Veradigm stock and wish to serve as lead plaintiff in the Veradigm class action lawsuit, or just have general questions about your rights as a shareholder, please contact Veradigm Stock Loss Lawyer Timothy L. Miles at no charge, by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form.
Lead plaintiff motions for the Veradigm class action lawsuit must be filed with the court no later than January 22, 2024.
Read on for answers to five frequently asked questions about the Veradigm class action lawsuit.
what are the ALLEGATIONS IN THE VERADIGM CLASS ACTION LAWSUIT?
The Veradigm class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Veradigm had overstated its historical revenues by at least $20 million; (ii) Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period; (iii) Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for Veradigm’s products and services; (iv) Veradigm had failed to maintain effective internal controls over its financial reporting; and (v) Veradigm had failed to comply with Generally Accepted Accounting Principles regarding appropriate revenue recognition practices.
On February 28, 2023, Veradigm announced that it had “detected certain internal control failures related to revenue recognition that had occurred over the prior six quarters, resulting in a misstatement of reported revenues during those periods.” Veradigm disclosed that the revenue misstatements caused revenue to be overstated by approximately $20 million from the third quarter of 2021 until the fourth quarter of 2022. On this news, the price of Veradigm stock fell nearly 13%.
Then, on June 13, 2023, Veradigm revealed that it had identified additional revenue misstatements dating back to fiscal year 2020. Veradigm further disclosed that its internal review on the nature and extent of the accounting and internal control errors would take longer than previously disclosed, and Veradigm’s independent auditors needed more time to complete their audit procedures. As a result, Veradigm would not meet the deadline to file its annual report on Form 10-K. On this news, the price of Veradigm stock fell more than 4%.
WHAT ARE MY CHOICES IF I RECEIVE A NOTICE IN THE VERADIGM CLASS ACTION LAWSUIT?
First, read the notice very carefully. You have two choices. First, you can do nothing and remain a member of the class represented by lead counsel. Second, if you believe you have a large enough loss to justify it, you can opt out of the Veradigm class action lawsuit and file your own separate lawsuit. Note, that if you opt out, you will not be able to participate in any settlement or recovery obtained in the Veradigm class action lawsuit.
CAN A NON-U.S. INVESTOR SERVE AS LEAD PLAINTIFF IN THE VERADIGM CLASS ACTION LAWSUIT?
Yes, courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Veradigm stock, they may move the Court to be appointed lead plaintiff in the Veradigm class action lawsuit.
WHAT ARE THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE VERADIGM CLASS ACTION LAWSUIT?
Serving as a Lead Plaintiff in the Veradigm class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Veradigm if you suffered significant losses in Veradigm stock.
CAN I BE APPOINTED LEAD PLAINTIFF IN THE VERADIGM CLASS ACTION LAWSUIT IF I PURCHASED SHARES OUTSIDE OF THE CLASS PERIOD?
No. Even if you suffered losses in Veradigm stock, if you purchased securities outside of the Class period, you will not be able to participate in the Veradigm class action lawsuit.
CONTACT A VERADIGM STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN VERADIGM STOCK ABOUT A VERADIGM CLASS ACTION LAWSUIT
If you suffered losses in Veradigm stock, contact Veradigm stock loss lawyer Timothy L. Miles today for a free case evaluation about a Veradigm class action lawsuit. Call today and see what a Veradigm stock loss lawyer could do for you if you suffered losses in Veradigm stock.
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); Americas Most Honored Lawyers 2020 â€“ Top 1% by America's Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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