Athenahealth (ATHN) Investors File Securities Class Action Lawsuit Against Athenahealth Over Restatement of Financial Statements
A securities class action lawsuit was filed against Athenahealth (ATHN) in the U.S. District Court for the District of Massachusetts (Case No. 10-cv-10477) on behalf of purchasers of Athenahealth common stock (ATHN) during the period between October 29, 2009 and February 25, 2010 (the “class period”) for alleged violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, according to a class action news report.
The Athenahealth (ATHN) securities class action complaint reportedly alleges, among other things, that on February 25, 2010 Athenahealth announced that its previously reported financial statements could no longer be relied upon, and that Athenahealth would likely need to restate prior financial statements based on its methodology for calculating implementation revenue.
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