Athenahealth, Inc. Securities Litigation (2018)

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Lawsuit Overview

Defendant:athenahealth, Inc.
Date Filed:December 18th, 2018
Industry:Business Services

According to the Complaint, Athenahealth offers hospitals software services focusing on medical records, revenue cycle, patient engagement, care coordination and population health. The software, called athenaNet, allows hospitals to handle the business side of medicine through one interface. Most of the Company's revenues are generated as a percentage of payments collected by the hospital via athenaNet. Over the past five years, revenues have almost doubled—from $563.2 million in 2013 to $1.1 billion in 2017.

The Complaint alleges that Defendants caused a materially incomplete and misleading preliminary proxy statement (the "Proxy") to be filed with the Securities and Exchange Commission ("SEC") on December 4, 2018. The Proxy recommends that athenahealth shareholders vote in favor of a proposed transaction (the "Proposed Transaction") whereby athenahealth is acquired by Veritas and Evergreen for $135.00 per share (the "Merger Consideration"). The deal is valued at approximately $5.68 billion and is expected to close in the first quarter of 2019.

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First Identified Complaint

Richard Hamilton, et al. v. Athenahealth, Inc., et al.

Date Filed:December 18th, 2018
Class Period Start:November 12th, 2018
Class Period End:December 18th, 2018
First Identified Complaint Filings
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