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Investors, E-MedSoft Settle Securities Class Action

Law360 (January 30, 2009, 12:00 AM EST) -- Lawyers have asked a judge to approve a settlement in a class action accusing former executives and directors of bankrupt health care software company e-MedSoft.com of misleading investors about its alliance with collapsed National Century Financial Enterprises Inc.

Plaintiffs' counsel filed an unopposed motion Thursday in the U.S. District Court for the Southern District of Ohio asking for approval of the deal, which calls for a fund of $400,000 to be established for class members.

The proceeds of a “modest directors' and officers' liability insurance policy”...
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