We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Quovadx To Settle Suit for $7.8M

Law360 (January 3, 2007, 12:00 AM EST) -- Software company Quovadx has reached a settlement in the last remaining of three legacy suits stemming from the company’s 2004 restatement of financial results.

Under the terms of a memorandum of understanding between Quovadx and the lead plaintiffs on December 26, Quovadx will shell out $7.8 million by January 15 to resolve the suit, which was originally lodged in Colorado in May 2004. The settlement agreement is still subject to court approval.

In exchange for that payment, the plaintiffs will release Quovadx from liability for claims...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.