Overview

• Veradigm Inc. is facing a class action lawsuit for allegedly overstating its historical revenues by at least $20 million and inflating its revenue by recording duplicate transactions over a period of more than two years.
• The company is also accused of inflating its earnings and margins, misrepresenting the demand for its products and services, and failing to maintain effective internal controls over financial reporting.
• On February 28, 2023, Veradigm acknowledged internal control failures related to revenue recognition that occurred over the previous six quarters, leading to misstated revenues during those periods.
• On June 13, 2023, Veradigm revealed additional revenue misstatements dating back to the fiscal year 2020 and announced that its internal review of the accounting and internal control errors would take longer than initially expected.
• Investors who purchased Veradigm securities between February 26, 2021 and June 13, 2023 are encouraged to contact law firms Portnoy, Bragar Eagel & Squire, P.C., and Rosen Law Firm to discuss their legal rights and potentially recover their losses.