Class Period: Oct 29, 2009 to Feb 25, 2010
Lead Plaintiff Deadline: May 18, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against athenahealth, Inc. (ATHN) ("athenahealth" or the "Company") on behalf of all securities purchasers from October 29, 2009 through February 25, 2010, inclusive ("Class Period"), in the United States District Court of Massachusetts.
Athenahealth provides internet-based business services for physician practices in the United States and offers a revenue cycle management service that automates and manages billing-related functions. The complaint alleges that on February 25, 2010, after the market closed, athenahealth announced that its previously reported financial statements could no longer be relied upon, and that the Company would likely need to restate prior financial statements based on its methodology for calculating implementation revenue. Upon the disclosure of this news, athenahealth common stock plummeted almost 13%, falling from a closing price of $43.52 per share on February 25, 2010 to a closing price of $37.96 per share on February 26, 2010.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.