BOSTON, Jan. 17, 2024 (GLOBE NEWSWIRE) -- A class action lawsuit has been filed against Veradigm, Inc. (NASDAQ:MDRX) for securities law violations. Investors who purchased shares and have lost money are encouraged to contact the firm to learn more about how they might recover those losses. For more details, visit https://www.blockleviton.com/cases/mdrx.
What is this all about?
On February 28, 2023, Veradigm disclosed that certain internal control failures related to revenue recognition had occurred over the prior six quarters, resulting in a misstatement of reported revenues during those periods. The misstatement caused revenue to be overstated by approximately $20 million from the third quarter of 2021 until the fourth quarter of 2022.
Shares of Veradigm stock dropped nearly 13% in intraday trading on March 1, 2023.
Then, on June 13, 2023, Veradigm revealed that it had identified additional revenue misstatements dating back to fiscal year 2020.
The Complaint alleges that throughout the ...