LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of a class (the “Class”) comprising all purchasers of the common stock of Merge Healthcare Incorporated (“Merge Healthcare” or the “Company”) (NASDAQ:MRGE) between August 1, 2012 and January 7, 2014, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Merge Healthcare develops software solutions that enable hospitals, imaging centers, integrated delivery networks, and health information exchanges to create information exchanges within their environments and with other entities worldwide. The Complaint alleges that during the Class Period the Company and certain of its executive officers and/or directors misrepresented or failed to disclose that, among other things:
- The Company’s reported subscription backlog and its reported increase in backlog was false and overstated during the six quarters ended September 30, 2013.
- The Company was experiencing a continued reluctance among large health systems to move forward with enterprise purchases.
- The Company lacked effective internal controls, and its disclosure controls had not been designed to provide reasonable assurance regarding the reliability of financial reporting.
- The Company’s deficient internal controls resulted in the failure to properly log and verify customer contracts, the failure to appropriately calculate commissions and the compensation of its sales force based on purported, and even falsified, contract signings rather than actual cash collections.
If you are a member of the Class described above, you may move the Court no later than March 17, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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