MDRX INVESTIGATION: Robbins Geller Rudman & Dowd LLP Announces Investigation into Veradigm Inc. and Encourages Investors with Substantial Losses or Witnesses with Relevant Information to Contact the Firm
SAN DIEGO, Oct. 13, 2023 /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP is investigating potential violations of U.S. federal securities laws involving Veradigm Inc. (NASDAQ: MDRX) focused on whether Veradigm as well as certain of its top executives made false and/or misleading statements and/or failed to disclose material information to investors.
If you have information that could assist in this investigation or if you are a Veradigm investor who suffered a loss and would like to learn more, you can provide your information here:
https://www.rgrdlaw.com/cases-veradigm-inc-investigation-mdrx.html
You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at jsanchez@rgrdlaw.com.
THE COMPANY: Veradigm is a healthcare technology company that offers electronic health records, financial management, population health management, and consumer solutions to over 300,000 U.S. healthcare providers.
THE REVELATIONS: On February 28, 2023, Veradigm announced that it had "detected certain internal control failures related to revenue recognition that have occurred over the prior six quarters, resulting in a mis-statement to reported revenues during those periods."
Then, on March 22, 2023, Veradigm further announced that it "expects to report one or more material weaknesses as of December 31, 2022, as well as its related remediation efforts . . . related to the recognition of revenue and certain other non-routine review controls" and "[a]s a result, [Veradigm] concluded that its disclosure controls and procedures were not effective as of December 31, 2022 and that its internal control over financial reporting was not effective as of December 31, 2022."
Thereafter, on June 13, 2023, Veradigm also revealed that it had identified additional revenue misstatements dating back to fiscal 2020: "[Veradigm] also previously disclosed that it expected to restate previously reported results for 2021 and 2022, and the cumulative impact was expected to be a reduction of revenue from continuing operations of approximately $40 million . . . . [A] portion of this impact is expected to relate to 2020."
ABOUT ROBBINS GELLER: Robbins Geller is one of the world's leading complex class action firms representing plaintiffs in securities fraud cases. The Firm is ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report for recovering more than $1.75 billion for investors in 2022 – the third year in a row Robbins Geller tops the list. And in those three years alone, Robbins Geller recovered nearly $5.3 billion for investors, more than double the amount recovered by any other plaintiffs' firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs' firms in the world and the Firm's attorneys have obtained many of the largest securities class action recoveries in history, including the largest securities class action recovery ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:
https://www.rgrdlaw.com/services-litigation-securities-fraud.html
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Contact:
Robbins Geller Rudman & Dowd LLP
655 W. Broadway, Suite 1900, San Diego, CA 92101
J.C. Sanchez, 800-449-4900
jsanchez@rgrdlaw.com
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SOURCE Robbins Geller Rudman & Dowd LLP
