Premier Information Management, Inc. (PINKSHEETS: PIFR) is pleased to announce the pre-jury trial settlement of its lawsuit against Bank of America. Both parties entered into a settlement conference which eventually resulted in a court ordered settlement.
A leading and key part of the settlement was non-disclosure of any details or terms regarding the settlement by either party to the public. As such at this time, neither Premier nor Bank of America can publicly release any information regarding this matter.
Premier is very glad to conclude this lawsuit sooner than we thought and that leaves us in a position to focus on the business and more aggressively take Premier forward, said CEO Tom Miller.
Although we cannot be specific about the terms of the settlement, I think it is only fair to note that as with most settlements brought about by mediation, neither party was absolutely satisfied with the result, but Premier can now refocus significant resources to the real business at hand, said David Stothart.
Premier expects to be making additional related news releases over the coming weeks including more on the process of partnering with a market maker which the company understands has been frustrating for investors.
About Premier Information Management, Inc. Premier Information Management, Inc. provides business critical information to the global Insurance and Healthcare industries by integrating fast and efficient database driven electronic content management systems to reduce and manage costly risk. Utilizing proprietary software with specially integrated modules, Premier realizes significant increases in data-in/out-report efficiencies delivering decision-critical reports significantly faster than the industry standard. Utilizing the most secure, flexible, and cost effective means to capture, manage and transmit sensitive information, Premier's EDI solutions are the new standard in the information management industry.
For more information, including company news and investor relations information, visit the company's website at: www.premierinformationmanagement.com |
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