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A lawsuit was filed on behalf of investors in Merge Healthcare Inc. (NASDAQ:MRGE) shares over alleged securities laws violations. Deadline: March 17, 2014. NASDAQ:MRGE investors should contact the Shareholders Foundation.

 
PRLog - Feb. 11, 2014 - An investor, who purchased shares of Merge Healthcare Inc. (NASDAQ:MRGE), filed a lawsuit in the U.S. District Court for the Northern District of Illinois over alleged violations of Federal Securities Laws by Merge Healthcare Inc. in connection with certain allegedly false and misleading statements made between August 1, 2012 and January 7, 2014.

If you purchased a significant amount of shares of Merge Healthcare Inc. (NASDAQ:MRGE) between August 1, 2012 and January 7, 2014, and/or if you purchased NASDAQ:MRGE shares in early 2012 or earlier and currently hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 17, 2014. NASDAQ:MRGE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com (mailto:mail@shareholdersfoundation.com) or call +1(858) 779 - 1554

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Merge Healthcare Inc. (NASDAQ:MRGE) between August 1, 2012 and January 7, 2014, that Merge Healthcare Inc. and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that the defendants allegedly misrepresented or failed to disclose 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.

In June 2012 NASDAW:MRGE shares traded at $2.22 per share. On July 31, 2012 Merge Healthcare Inc. reported its financial and business results for the second quarter in 2012.

Merge Healthcare Inc. (NASDAQ:MRGE) shares grew to as high as $3.91 per share in September 2012.

On February 19, 2013, Merge Healthcare Inc. reported its financial and business results for the fourth quarter of 2012. Merge Healthcare Inc.  reported that its annual Total Revenue rose from 232.43 million in 2011 to $248.90 million in 2012 and that its respective Net Loss increased from $5.52 million to $28.80 million. On May 1, 2013, Merge Healthcare Inc. announced its “record first quarter sales” along with its other financial and business results for the first quarter of 2013.

Shares of Merge Healthcare Inc. (NASDAQ:MRGE) grew from $2.22 per share in June 2012 to as high as $4.55 per share in July 2013.

Then on August 9, 2013, Merge Healthcare Inc announced its financial and business results for the second quarter of 2013. Among other things, Merge Healthcare Inc announced that its board of directors has accepted the resignation of Jeffery A. Surges as Chief Executive Officer and Director of the Company.

Shares of Merge Healthcare Inc. (NASDAQ:MRGE) declined from $4.51 per share on August 2, 2013, to $2.43 per share on August 9, 2013.

Then on January 8, 2014, Merge Healthcare Inc. announced that it recently learned through an internal review that a former sales employee in its eClinical business had falsified the existence or amount of certain customer contracts.

Merge Healthcare Inc. said that while no restatement of any of the company’s prior financial statements is necessary or will be made, it, however, is reducing its previously-announced non-GAAP subscription backlog totals for the Merge DNA segment for the quarterly periods ended June 30, 2012 through September 30, 2013.

Shares of Merge Healthcare Inc. (NASDAQ:MRGE) declined from $2.58 per share on January 3, 2014, to $2.08 per share on January 9, 2014.

On January 16, 2014, NASDAQ:MRGE shares closed at $2.22 per share.

Those who purchased shares of Merge Healthcare Inc. have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554

Contact
Shareholders Foundation, Inc.
+1-(858)-779-1554
mail@shareholdersfoundation.com

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Source:Shareholders Foundation, Inc.
Industry:Business, Finance
Tags:merge healthcare, nasdaq:mrge, class action, lawsuit
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