SOURCE: Izard Nobel LLP

December 17, 2008 12:34 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Integral Systems, Inc.

HARTFORD, CT--(Marketwire - December 17, 2008) - 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 District of Maryland on behalf of those who purchased or otherwise acquired the securities of Integral Systems, Inc. (NASDAQ: ISYS) ("Integral Systems" or the "Company") between April 28, 2008 and December 10, 2008, inclusive (the "Class Period").

The Complaint charges that Integral Systems and certain of its officers and directors violated federal securities laws by issuing false and misleading statements. Specifically, defendants failed to disclose the following: (i) that the Company improperly recognized revenue; (ii) that as a result, Integral Systems misstated its financial results during the Class Period; (iii) that the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles; (iv) that the Company lacked adequate internal and financial controls; and (v) as a result of the above, the Company's financial statements were materially misleading.

On December 11, 2008, Integral Systems revealed that it would restate previously filed financial statements for interim quarterly periods ended December 31, 2007, March 30, 2008 and June 30, 2008 due to an error in the accounting treatment for certain transactions with respect to the timing of the recognition of revenue. On this news, shares of Integral Systems fell $6.38 per share to close at $15.92 per share.

If you are a member of the class, you may, no later than February 16, 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 at (800) 797-5499, or by e-mail: For more information about class action cases in general, please visit our website:

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