Case Page

 

Case Status:    DISMISSED    
On or around 06/29/2001 (Date of order of final judgment)

Filing Date: October 31, 2000

On April 27, 2001, the defendant filed a motion to dismiss the plaintiff’s consolidated and Amended Complaint. On June 29, 2001, the Court entered the Order by U.S. District Judge Charles P. Kocoras granting the defendant's motion to dismiss plaintiff’s amended complaint. The plaintiff’ complaint was dismissed in its entirety, Judgment was entered, and the case was terminated.

The original Complaint charges that Allscripts violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. In particular, Allscripts announced on October 26, 2000, after the close of trading, that its results for the second quarter of 2000 were being revised to correct an issue with respect to the recognition of revenue. Specifically, the company announced that its previously reported revenues for the second quarter of 2000 have been revised from $12.6 million to $12.1 million and previously reported revenues for the first 6 months of 2000 have been revised from $22.2 million to $21.7 million. The revisions increased Allscript's net loss for the second quarter of 2000 from $24.3 million to $24.8 million and net losses for the first six months of 2000 from $26.3 million to $26.8 million. After this announcement, the price of the Company's stock fell nearly 45%.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Drugs)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MDRX
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. Illinois
DOCKET #: 00-CV-06796
JUDGE: Hon. Charles P. Kocoras
DATE FILED: 10/31/2000
CLASS PERIOD START: 07/27/2000
CLASS PERIOD END: 10/26/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brodsky & Smith, LLC (former Pennysylvania)
    11 Bala Avenue, Suite 39, Brodsky & Smith, LLC (former Pennysylvania), PA 19004
    610.668.7987 610.660.0450 · esmith@Brodsky-Smith.com
  2. Cauley, Geller, Bowman, Coates & Rudman LLP (San Diego, CA)
    225 Broadway, Suite 1900, Cauley, Geller, Bowman, Coates & Rudman LLP (San Diego, CA), CA 92010
    619.702.7350 619.702.7351 ·
  3. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  4. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
COURT: N.D. Illinois
DOCKET #: 00-CV-06796
JUDGE: Hon. Charles P. Kocoras
DATE FILED: 03/12/2001
CLASS PERIOD START: 07/27/2000
CLASS PERIOD END: 10/26/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  2. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
No Document Title Filing Date