An investigation on behalf of investors of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) in connection with a potential takeover was announced and NASDAQ:MDRX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/02/2012 -- An investigation on behalf of investors in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) shares was announced concerning whether a takeover of Allscripts Healthcare Solutions Inc would be unfair to investors in NASDAQ:MDRX shares.
Investors who purchased shares of the Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) and currently hold any of those NASDAQ:MDRX shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm is at an early stage and concerns whether a potential takeover would be unfair to NASDAQ:MDRX investors.
On September 28, 2012, it was reported that Allscripts Healthcare Solutions Inc (NASDAQ:MDRX has hired Citigroup Inc. to advise on a potential sale and has spoken in recent weeks with several private equity firms.
Following the takeover rumors NASDAQ:MDRX shares jumped from $10.82 per share to $12.95 per share during September 28, 2012 and continued on Monday Octboer 1, 2012 to trade as high as $12.95 per share. At least one analyst has set the high target price at $15.00 per share. Furthermore, NASDAQ:MDRX shares traded earlier this year as high as $22.28 per share.
In fact, the financial performance of Allscripts Healthcare Solutions Inc improved recently. For instance it reported that its Total Revenue rose from $548.44 million for the 12 months period that ended on May 31, 2009 to over $1.44 billion for the 12 months period that ended on Dec. 31, 2011 and its Net Income over the respective time periods increased from $26.02 million to $73.61 million. Furthermore, shares of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) grew at a exceptional growth rate. NASDAQ:MDRX shares grew from as low as $4.87 per share to as high as $22.41 per share in April 2010. During 2011 NASDAQ:MDRX exceeded several times $20 per share and traded as recently as February 2012 as high as $20.28 per share.
Therefore the investigation a law firm concerns whether the Allscripts Healthcare Solutions Inc (NASDAQ:MDRX Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX) and purchased their Allscripts Healthcare Solutions Inc shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
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