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Kendall Law Group Investigates Eclipsys Corp. Merger for Shareholders

^{Published on 2010-06-09 16:30:03 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--[ Kendall Law Group ] is investigating Eclipsys Corp. (NASDAQ: ECLP) for shareholders in connection with the proposed sale of Eclipsys to Allscripts-Misys Healthcare Solutions, Inc. The national securities firma™s investigation seeks to determine whether Eclipsys and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an Eclipsys shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at [ skendall@kendalllawgroup.com ].

The companies announced on June 9, 2010 that they had entered into an agreement for Eclipsys to be acquired by Allscripts in a transaction valued at approximately $1.3 billion. According to the agreement, Eclipsys will be acquired in an all stock transaction in which stockholders will receive 1.2 shares of Allscripts per Eclipsys share held. While the transaction represents a 19% premium for Eclipsys share price at the closing of $18.51 on June 8, Eclipsys shares had traded for as high as $20.59 just five days earlier on June 3, 2010. In a filing with the Securities and Exchange Commission for the first quarter of 2010, Eclipsys reported that its adjusted profit beat analyst estimates by 4 cents per share and Raymond James & Associates analyst Alexander Draper recently upgraded the shares from "Market Perform" to "Outperform."

Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.