SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Merge Healthcar...
March 07 2014 - 7:17PM
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the United States District
Court for the Northern District of Illinois on behalf of purchasers
of Merge Healthcare, Incorporated, ("Merge Healthcare" or the
"Company") (Nasdaq:MRGE) common stock during the period between
August 1, 2012 and January 17, 2014, inclusive (the "Class
Period").
If you are a shareholder who purchased Merge Healthcare common
stock during the Class Period, you may obtain additional
information about this lawsuit and your ability to become a lead
plaintiff, at no cost to you, by contacting Brower Piven at
www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410/415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating
securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of
the Class will be represented by the lead plaintiff and counsel
chosen by the lead plaintiff. If you wish to choose counsel to
represent you and the Class, you must apply to be appointed lead
plaintiff no later than March 17, 2014 and be selected by the
Court. The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a
settlement and how much of a settlement to accept for the Class in
the action. The lead plaintiff will be selected from among
applicants claiming the largest loss from investment in Company
units during the Class Period.
The complaint accuses the defendants of violations of the
Securities Exchange Act of 1934 by virtue of the defendants'
failure to disclose during the Class Period that both the existence
and value of millions of dollars of the Company's eClinical
customer contracts had been falsified, and 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.
According to the complaint, following the Company's disclosures
in May 2013 regarding the sudden resignation of the Company's
General Counsel and later its Chairman and CEO, and the release of
"very disappointing" second quarter 2013 earnings results and a
January 8, 2014 announcement that the existence and/or value of
millions of dollars of customer contracts had been falsified for
six quarters ending September 30, 2013, ending September 30, 2013,
in what it characterized as a rogue employee's attempt to reach
sales quotas and garner additional commissions, the value of Merge
Healthcare shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven
without financial obligation or cost to you, or you may retain
other counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
Stevenson, Maryland
410/415-6616
hoffman@browerpiven.com
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