Investors who purchased shares of the Allscripts Healthcare Solutions Inc (NASDAQ:MDRX)
The investigation by a law firm is at an early stage and concerns whether a potential takeover would be unfair to NASDAQ:MDRX investors.
On September 28, 2012, it was reported that Allscripts Healthcare Solutions Inc (NASDAQ:MDRX has hired Citigroup Inc. to advise on a potential sale and has spoken in recent weeks with several private equity firms.
Following the takeover rumors NASDAQ:MDRX shares jumped from $10.82 per share to $12.95 per share during September 28, 2012 and continued on Monday Octboer 1, 2012 to trade as high as $12.95 per share. At least one analyst has set the high target price at $15.00 per share. Furthermore, NASDAQ:MDRX shares traded earlier this year as high as $22.28 per share.
In fact, the financial performance of Allscripts Healthcare Solutions Inc improved recently. For instance it reported that its Total Revenue rose from $548.44 million for the 12 months period that ended on May 31, 2009 to over $1.44 billion for the 12 months period that ended on Dec. 31, 2011 and its Net Income over the respective time periods increased from $26.02 million to $73.61 million. Furthermore, shares of Allscripts Healthcare Solutions Inc (NASDAQ:MDRX)
Therefore the investigation a law firm concerns whether the Allscripts Healthcare Solutions Inc (NASDAQ:MDRX Board of Directors will undertake an adequate sales process, adequately shop the company before entering into any transaction, maximize shareholder value by negotiating the best price, and act in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Allscripts Healthcare Solutions Inc (NASDAQ:MDRX)