MDRX - Investors Sue Veradigm (MDRX) For Allegedly Inflating Revenues- Hagens Berman | Benzinga
SAN FRANCISCO, Jan. 01, 2024 (GLOBE NEWSWIRE) -- Hagens Berman urges Veradigm Inc. (NASDAQ:MDRX) investors who suffered substantial losses to submit your losses now.
Class Period: Feb. 26, 2021 – June 13, 2023
Lead Plaintiff Deadline: Jan. 22, 2024
Visit: www.hbsslaw.com/investor-fraud/MDRX
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844-916-0895
Veradigm Inc. (MDRX) Securities Fraud Class Action:
On Dec. 8, 2023, Veradigm announced that as a result of its ongoing internal investigation relating to the company's financial reporting, its board requested the immediate resignations of the company's CEO (Richard J. Poulton) and CFO (Leah S. Jones).
Poulton's and Jones' abrupt departure comes on the heels of a securities class action suit brought against both them and Veradigm.
"The complaint alleges Veradigm improperly recognized revenue," said Reed Kathrein, the Hagens Berman partner leading the investigation.
Specifically, investors allege Defendants misrepresented and concealed that Veradigm: (1) had overstated its historical revenues by at least $20 million; (2) artificially inflated revenues by recording duplicate transactions over more than 2 years; (3) artificially inflated earnings and margins and materially misrepresented demand for its products and services; (4) failed to maintain sufficient internal ...
MDRX) For Allegedly Inflating Revenues- Hagens Berman>Full story available on Benzinga.com