An institutional investor that was once one of Allscripts Healthcare Solutions' largest shareholders has divested itself of virtually all its stock in the Chicago-based health IT firm. Atlanta-based Invesco Ltd., owned more than 12.7 million shares as of Sept. 30, 2011, roughly 7 percent of Allscripts. But its holdings have shrunk to just under 200,000 shares, or 0.1 percent of outstanding shares, as of Wednesday, according to a filing with the Securities and Exchange Commission.
Former major Allscripts investor continues dumping shares
Invesco unloaded most of its shares in the first half of 2012, during which Allscripts was in crisis after weak first quarter, a vote of no-confidence in then-CEO Glen Tullman—which he survived—and a call for his resignation by the company's largest shareholder. Mr. Tullman eventually resigned in December. Allscripts stock closed at $11.22 a share on Wednesday, down more than 40 percent from a year ago, when it was $18.79.
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