SAN DIEGO, Feb. 3, 2014 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Merge Healthcare Inc. (MRGE) common stock over alleged violations of Federal Securities Laws by Merge Healthcare Inc. in connection with certain allegedly false and misleading statements made between August 1, 2012 and January 7, 2014.
If you purchased a significant amount of shares of Merge Healthcare Inc. (MRGE) between August 1, 2012 and January 7, 2014, and / or if you purchased MRGE shares prior to August 2012 and currently hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 17, 2014. MRGE. investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants allegedly misrepresented or failed to disclose that both the existence and value of millions of dollars of the Company's eClinical customer contracts had been falsified, and that as a result the Company's reported subscription backlog was overstated during the six quarters ended September 30, 2013, and that the Company was experiencing a continued reluctance amongst large health systems to move forward with enterprise imaging purchases.
On August 9, 2013, Merge Healthcare Inc announced its financial and business results for the second quarter of 2013. Among other things, Merge Healthcare Inc announced that its board of directors has accepted the resignation of Jeffery A. Surges as Chief Executive Officer and Director of the Company. Then on January 8, 2014, Merge Healthcare Inc. announced that it recently learned through an internal review that a former sales employee in its eClinical business had falsified the existence or amount of certain customer contracts.
Shares of Merge Healthcare Inc. (MRGE) declined from $4.55 per share in late July 2013 to under $2 in late January 2014.
Those who purchased shares of Merge Healthcare Inc. have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.