Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shareholders of health-care information technology provider Allscripts Healthcare Solutions (Nasdaq: MDRX) may need medication for an upset stomach after their stock plunged as much as 44% earlier in the trading session following a dismal first-quarter earnings report.

So what: For the quarter, Allscripts reported a 9% rise in revenue to $365.5 million and a profit of $0.12 excluding one-time costs. These results missed Wall Street's estimates for a profit of $0.24 and $387.7 million by a mile. A 9% drop in booking revenue and a 64% leap in development costs were highlighted as the primary reasons for the weakness. I wish that were the end of it.

Allscripts also announced that three members of its board of directors, its long-serving CFO, and its board chairman were leaving the company. Add in at least two downgrades from Citigroup and UBS and you have the makings of a terrible day.

Now what: I'd like to tell you that today's huge move lower created a significant buying opportunity in the stock, but I can't help but be concerned by Allscripts' weakening sales trends, rising development costs, and especially the shake-up on the board. I'd consider breaking out the yellow caution tape until further investigation has been done around today's shareholder fleecing.

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