QuadraMed and SEC Reach Agreement.Business Editors RESTON, Va.--(BUSINESS WIRE)--May 3, 2004 QuadraMed(R) Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : QMDC.OB) announced today the resolution of the previously disclosed investigation by the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission concerning the Company. The Company has consented to the issuance of a Cease and Desist Order An order issued by an Administrative Agency or a court proscribing a person or a business entity from continuing a particular course of conduct. The force and effect of a cease and desist order are similar to those of an Injunction issued by a court. , without admitting or denying the findings in the Order. The Order concerns the accounting for transactions between QuadraMed and Health+Cast LLP LLP - Lower Layer Protocol in 1998 and 1999. None of the individuals who were involved with the Health+Cast transactions are any longer associated with the Company. No fine has been assessed against the Company in the order, which requires the Company to cease and desist Cease and desist (also called C & D) is a legal term used primarily in the United States which essentially means "to halt" or "to end" an action ("cease") and to refrain from doing it again in the future ("desist"). from violations of the antifraud, periodic reporting and books and records provisions of the Securities Exchange Act of 1934. "QuadraMed is pleased to put this matter behind it. This represents the final page in a very unpleasant chapter of the Company's history," stated Lawrence P. English, QuadraMed's Chairman and Chief Executive Officer. "Now we all can devote 100% of our attention to the business at hand of serving our loyal customers." About QuadraMed Corporation QuadraMed is dedicated to improving healthcare delivery by providing innovative healthcare information technology and services. From clinical and patient information management to revenue cycle and health information management, QuadraMed delivers real-world solutions that help healthcare professionals deliver outstanding patient care with optimum efficiency. Behind our products and services is a staff of more than 850 professionals whose experience and dedication to service has earned QuadraMed the trust and loyalty of customers at more than 1,900 healthcare provider facilities. To find out more about QuadraMed, visit www.quadramed.com. Cautionary Statement on Risks Associated with QuadraMed's Forward-Looking Statements This press release contains forward-looking statements by QuadraMed within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 that are subject to risks and uncertainties. The words "believe," "expect," "anticipate," "intend," "plan," "estimate," "may," "should," "could," and similar expressions are intended to identify such statements. Forward-looking statements are not guarantees of future performance and are to be interpreted only as of the date on which they are made. QuadraMed undertakes no obligation to update or revise any forward-looking statement except as required by law. QuadraMed advises investors that it discusses risk factors and uncertainties that could cause QuadraMed's actual results to differ from forward-looking statements in its periodic reports filed with the Securities and Exchange Commission ("SEC"). QuadraMed's SEC filings can be accessed through the Investor Relations Investor relations The process by which the corporation communicates with its investors. section of our website, www.quadramed.com, or through the SEC's EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. Database at www.sec.gov (QuadraMed has EDGAR CIK CIK Central Index Key (SEC) CIK Commission Internationale de Karting (French) CIK Crypto Ignition Key CIK Contribution in Kind CIK Confederazione Italiana Kendo No. 0001018833). Note to editors: QuadraMed is a registered trademark of QuadraMed Corporation. All other trademarks are the property of their respective owners. |
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