NEW YORK, Feb. 10, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of purchasers of the common stock of Merge Healthcare Incorporated (Nasdaq: MRGE ) asserting violations of the federal securities laws. If you purchased shares of Merge Healthcare stock during the period from August 1, 2012 to January 7, 2014, you are eligible to join the class action.
To join the Merge Healthcare class action, visit the firm's website at http://rosenlegal.com , or call Phillip Kim or Kevin Chan toll-free at 866-767-3653; you may also email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The lawsuit alleges that Merge Healthcare and certain of its executive officers and/or directors misrepresented or failed to disclose that, among other things:
- Merge Healthcare's reported subscription backlog and its reported increase in backlog were false and overstated during the six quarters ended September 30, 2013.
- Merge Healthcare was experiencing a continued reluctance among large health systems to move forward with enterprise purchases.
- Merge Healthcare failed to properly log and verify customer contracts and appropriately calculate the commissions of its sales force.
On this adverse news, the price of Merge Healthcare stock, which had traded as high as $4.71 per share during the Class Period, fell to a closing price of $2.11 per share as a result of the alleged fraud.
If you wish to serve as lead plaintiff, you must move the Court no later than March 17, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com . You may also visit the firm's website at http://rosenlegal.com .
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
Laurence Rosen, Esq. Phillip Kim, Esq. Kevin Chan The Rosen Law Firm P.A. 275 Madison Avenue 34th Floor New York, New York 10016 Tel: (212) 686-1060 Toll Free: 1-866-767-3653 Fax: (212) 202-3827 www.rosenlegal.com
