Allscripts To Pay $10M To End Investor Suit Over Merger Woes

Law360, New York (April 3, 2015, 2:33 PM EDT) -- Allscripts Healthcare Solutions Inc. has agreed to pay nearly $10 million to end a proposed shareholder class action that alleges the health care information technology company hid problems sparked by a 2010 merger with Eclipsys Corp., according to documents filed Thursday.

Lead plaintiffs the Government of Bermuda Contributory and Public Service Superannuation Pension Plans and the International Brotherhood of Electrical Workers Local Union 38 Pension Fund asked an Illinois federal judge for preliminary approval of the deal, which provides $9.75 million to the proposed class.

According to the pension funds, the settlement meets the standard for initial approval.

“Both lead plaintiffs...

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Illinois Northern

Nature of Suit

850(Securities/Commodities)

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Date Filed

May 2, 2012

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