NEW YORK, June 9, 2010 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of Eclipsys Corporation ("Eclipsys" or the "Company") (Nasdaq:ECLP) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Allscripts-Misys Healthcare ("Allscripts") (Nasdaq:MDRX). Under the terms of the transaction, Eclipsys shareholders will receive 1.2 shares of Allscripts stock for each Eclipsys share of common stock they own. Based on the prior closing price of Allscripts stock of $18.42 per share, the transaction values Eclipsys stock at approximately $22.10 per share for a total transaction value of approximately $1.3 billion.
The investigation concerns whether the Eclipsys Board of Directors breached their fiduciary duties to Eclipsys stockholders by failing to adequately shop the Company before entering into this transaction and whether Allscripts is underpaying for Eclipsys shares, thus unlawfully harming Eclipsys stockholders. In particular, the offer price is only a nominal premium over the $21.50 price the Company's shares traded at as recently as April 29, 2010 and at least one analyst set a price target for Eclipsys stock at $26.00 per share.
If you own common stock in Eclipsys and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500 or visit http://www.zlk.com/eclipsys-corporation-eclp.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.