athenahealth Inc, ATHN Securities Fraud

March 23 2010 - by Lucy Campbell

Company:	athenahealth Inc,
Ticker Symbol:	ATHN
Class Period:	Oct-29-09 to Feb-25-10
Date Filed:	Mar-19-10
Lead Plaintiff Deadline:	May-18-10
Court:	District of Massachusetts
Allegations:

A class action lawsuit has been filed against athenahealth, Inc (athenahealth" or the "Company") and certain of its senior managers. The class action complaint, docketed under 10-cv-10477, was filed on behalf of purchasers of athenahealth securities during the period between October 29, 2009 and February 25, 2010, both dates inclusive (the "Class Period"). The Complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act, and Rule 10b-5 promulgated thereunder.

athenahealth provides internet-based business services for physician practices in the United States and offers a revenue cycle management service that automates and manages billing-related functions. On February 25, 2010, after the market closed, athenahealth announced that its previously reported financial statements could no longer be relied upon, and that the Company would likely need to restate prior financial statements based on its methodology for calculating implementation revenue. Upon the disclosure of this news, athenahealth common stock plummeted almost 13%, falling from a closing price of $43.52 per share on February 25, 2010 to a closing price of $37.96 per share on February 26, 2010.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

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