HMS Holdings Corp. Announces Settlement of Trade Secret Litigation
April 28 2016 - 4:30PM
HMS Holdings Corp. (NASDAQ:HMSY) today announced that the Company
has entered into settlement agreements with Public Consulting
Group, Inc. (“PCG”) and various individuals that fully resolve the
matters in controversy in connection with the following
previously-disclosed lawsuits: HMS Holdings Corp., et al. v. Public
Consulting Group, Inc., James Gambino and Jason Ramos, in the
District Court of Dallas County, Texas; and HMS Holdings Corp., et
al. v. Matthew Arendt, Sean Curtin and Danielle Lange and HMS
Holdings Corp., et al. v. Elena Moiseenko and Joseph Flora, in the
New York State Supreme Court, Albany County (collectively the
“Trade Secret Litigation”).
Pursuant to terms of the PCG settlement agreement, PCG has
agreed for a period of seven years until April 2023 not to develop,
plan, market, provide, offer, advise with respect to, assist with,
sell, or otherwise perform, directly or indirectly, any third party
liability services (“TPL Services”) including but not limited to
coordination of benefits, credit balance audits and dependent
eligibility audits. PCG has also agreed to withdraw any pending TPL
bids, bid protests and/or contract negotiations, including with the
State of New Jersey. In addition, the settlements will result in
the dismissal of all pending cases or appeals between the parties
and includes full, mutual releases of PCG, HMS, and their
affiliates from any and all pending and future claims related to
the Trade Secret Litigation.
“We are very pleased to put these matters behind us and to
return our full time and attention to serving our customers, as we
partner with them to help bend the healthcare cost curve. Our goal
from the outset of the litigation was to defend our intellectual
property and to protect our trade secrets. Those objectives have
been accomplished,” said Bill Lucia, HMS Chairman and CEO.
About HMS
HMS Holdings Corp., through its subsidiaries, provides
coordination of benefits and payment integrity services for payers.
The Company serves state Medicaid programs; health plans, including
Medicaid managed care, Medicare Advantage and group and individual
health lines of business; federal government health agencies,
including the Centers for Medicare & Medicaid Services and the
Veterans Health Administration; government and private employers;
and other healthcare payers and sponsors, including child support
agencies. As a result of the Company’s services, our customers
recover billions of dollars annually and save billions more through
the prevention of improper payments.
Investor Contact:
Dennis Oakes
SVP, Investor Relations
dennis.oakes@hms.com
212-857-5786
Media Contact:
Francesca Marraro
VP, Marketing and Communications
fmarraro@hms.com
212-857-5442
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