SOURCE: Izard Nobel LLP

August 04, 2009 17:44 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Allscripts-Misys Healthcare Solutions, Inc.

WEST HARTFORD, CT--(Marketwire - August 4, 2009) - The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Illinois on behalf of those who purchased the common stock of Allscripts-Misys Healthcare Solutions, Inc. (formerly known as Allscripts Healthcare Solutions, Inc.) ("Allscripts" or the "Company") (NASDAQ: MDRX) between May 8, 2007 and February 13, 2008 (the "Class Period").

The complaint charges that Allscripts and certain of its officers and directors violated federal securities laws. According to the complaint, during May 2007, Allscripts went "live" with the newest version of its EHR clinical software, Touchworks, version 11 ("V-11"). The complaint alleges that defendants failed to disclose the following adverse facts: (i) that Allscripts lacked the necessary resources to install V-11 software at customer sites; (ii) that Allscripts had no historical basis to estimate the completion of V-11 or the impact V-11 sales might have on the Company's 2007 revenues and earnings; (iii) that the complexity of V-11 had materially and adversely lengthened the sales cycle and revenue recognition cycle for the Company's V-11 sales contracts; (iv) that Allscripts was currently experiencing adverse and continuing delays in the installation of V-11 software systems; and (v) that based on the foregoing, defendants had no reasonable basis for their statements concerning Allscripts' current and future financial performance and projections.

If you are a member of the class, you may, no later than October 5, 2009, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.

While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit:, or contact Izard Nobel LLP toll-free: (800) 797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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