Philadelphia, Pennsylvania--(Newsfile Corp. - March 7, 2024) - A securities fraud class action lawsuit alleges that Veradigm, Inc. (OTC: MDRX), through certain of its officers and directors, made false and/or misleading statements and/or failed to disclose that: (i) Veradigm had overstated its historical revenues by at least $20 million; (ii) Veradigm had artificially inflated its revenue by recording duplicate transactions, among other things, over a more than two-year period; (iii) Veradigm had artificially inflated its earnings and margins and materially misrepresented demand for Veradigm's products and services; (iv) Veradigm had failed to maintain effective internal controls over its financial reporting; and (v) Veradigm had failed to comply with Generally Accepted Accounting Principles regarding appropriate revenue recognition practices.
Veradigm also received notice from Nasdaq that the Company was noncompliant with timely filing of all periodic reports because the Company had not filed its Annual Report on Form 10-K for 2022, Q1, Q2, and Q3 10-Q.
On February 27, Veradigm announced that it did not expect to have filed its Annual Report on Form 10-K for the year ended December 31, 2022, or its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2023, June 30, 2023 and September 30, 2023, by February 27, 2024, the deadline that Nasdaq had given the Company to regain compliance with Nasdaq Listing Rule 5250(c)(1).
Veradigm received a delisting notice from NASDAQ on February 28, 2024.
Current Veradigm shareholders who have held Veradigm shares since prior to February 26, 2021 can seek corporate reforms, the return of funds back to the company, and a court approved incentive award at no cost to them whatsoever.
To learn more, please visit https://grabarlaw.com/the-latest/veradigm-shareholder-investigation/ or contact Joshua Grabar at jgrabar@grabarlaw.com or Mia Heller at mheller@grabarlaw.com, or call us at 267-507-6085.
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Joshua H. Grabar, Esq.
Grabar Law Office
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1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
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