SOURCE: Shalov Stone Bonner & Rocco LLP

Shalov Stone Bonner & Rocco LLP

August 04, 2009 20:55 ET

Shalov Stone Bonner & Rocco LLP Announces Class Action Filed Against Allscripts-Misys Healthcare Solutions, Inc.

NEW YORK, NY--(Marketwire - August 4, 2009) - Shalov Stone Bonner & Rocco LLP announces that a class action lawsuit has been filed on behalf of purchasers of Allscripts-Misys Healthcare Solutions, Inc. (formerly known as Allscripts Healthcare Solutions, Inc.) ("Allscripts" or the "Company") (NASDAQ: MDRX) common stock during the period from May 8, 2007 to February 13, 2008, inclusive (the "Class Period"). The lawsuit is pending in the United States District Court for the Northern District of Illinois.

The complaint charges Allscripts and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Allscripts develops and sells software applications to healthcare organizations. According to the complaint, in May 2007, the Company went "live" with the newest version of its EHR clinical software, Touchworks, v.11. The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company's business, by among other things failing to disclose that Allscripts was not able to install Touchworks v.11 software at customer sites and was experiencing delays in the installation of these software systems and that the complexity and other issues relating to Touchworks v.11 software had adversely lengthened the sales cycle and revenue recognition cycle negatively impacting future revenues. On February 13, 2008, Allscripts released its actual 2007 financial results, reporting 2007 lower than expected revenues and it later disclosed that Touchworks v.11 issues and installation delays would negatively impact sales and earnings into 2008. In response to those announcements, the price of Allscripts common shares fell $4.12 per share, closing at $11.27 on February 14, 2008.

Shalov Stone Bonner & Rocco LLP has extensive experience in the prosecution of class actions on behalf of investors. For more information about the firm, please visit its website at: www.lawssb.com

If you would like additional information about the lawsuit or would like to participate in it, please contact investor rights attorney Amanda C. Scuder, at Shalov Stone Bonner & Rocco LLP, 485 Seventh Avenue, Suite 1000, New York, New York 10018 (telephone: (212) 239-4340; email: ascuder@lawssb.com).

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