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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!