The Shuman Law Firm today announced that it is investigating potential claims against athenahealth, Inc. ("athenahealth" or the "Company") (NASDAQ:ATHN) concerning possible securities violations related to the Company's public statements regarding its financial performance.
The investigation concerns the Company's February 25, 2010, announcement that it will postpone the release of its financial results for the fourth quarter of 2009 and the year ended December 31, 2009, to "conduct an internal accounting policy review related to the timing of amortization for deferred implementation revenue," among other things. According to the statement, the Company "is now reviewing whether the period of amortization for deferred implementation revenue should be extended to a longer expected performance period. ...If the Company determines that a change is necessary, and the financial impact is deemed material, the Company would restate prior year financial statements." As a result of this news, shares of athenahealth declined approximately 15%, to a close on February 26, 2010 of $36.84 per share, on unusually heavy trading volume.
If you purchased and/or own shares of athenahealth, Inc. stock and are interested in discussing your rights as an athenahealth shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.
Contacts:
The Shuman Law Firm
Kip B. Shuman, Esq., 866-974-8626
kip@shumanlawfirm.com
OR
Rusty
E. Glenn, Esq., 866-974-8626
rusty@shumanlawfirm.com
Fax:
303-484-4886
Web: www.shumanlawfirm.com
