NEW YORK, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, announces the filing of a class action lawsuit against Veradigm Inc. (“Veradigm” or the “Company”) (NASDAQ: MDRX) for violations of the federal securities laws on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Veradigm securities between February 26, 2021 and June 13, 2023, both dates inclusive (the “Class Period”).
On November 22, 2023, a complaint was filed against the Company and certain of its officers and directors alleging that throughout the Class Period, defendants 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; (v) Veradigm had failed to comply with Generally Accepted Accounting Principles regarding appropriate revenue recognition practices, and (vi) (f) as a result of the foregoing, the Company’s financial projections were materially false and misleading and lacked any reasonable basis.
When investors learned the truth, Veradigm’s common stock declined precipitously, injuring investors.
If you suffered a loss of more than $100,000 in Veradigm securities, and wish to participate, or learn more, click here, please contact our attorneys at (914) 733-7256 or via email to Andrea Farah (afarah@lowey.com) or Vincent R. Cappucci Jr. (vcappucci@lowey.com).
Any investor who wishes to serve as Lead Plaintiff must act before January 22, 2024.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has recovered billions of dollars on behalf of its clients.
Contact:
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7234
Email: investigations@lowey.com
SOURCE: Lowey Dannenberg P.C.
