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Case Status:    SETTLED
On or around 08/06/2004 (Date of order of final judgment)

Filing Date: October 02, 2002

According to the docket, on July 30, 2004, U.S. District Judge Samuel Conti approved the class settlement. On August 6, 2005, the Court entered the Judgment on the settlement and the civil case was terminated. The Court further entered that day the Order for reimbursement of attorneys' fees and expenses. By the Notice Of Pendency and Proposed Settlement of Class Action and Settlement Hearing, the settlement amount was $5,250,000 in cash.

As reported by the Company’s Form 10-Q for the quarterly period ended March 31, 2004, on May 3, 2004, the final settlement agreement related to the securities class action litigation was filed with the court. The agreement is subject to a statutory notice and opt-out period, a final hearing is scheduled for July 30, 2004. As of April 21, 2004, the final settlement agreement relating to the shareholders derivative litigation was approved by the court. QuadraMed expects that the settlement amounts will be principally covered by its insurance. Approximately $1.3 million was accrued as of March 31, 2004 related to these settlements, representing the portion of settlement not expected to be covered by insurance.

Earlier, according to the same SEC filing, in October 2002, a series of securities law class action complaints was filed in the United States District Court, California Northern District, by certain of our shareholders against QuadraMed and certain of its officers and directors. The plaintiffs in these actions allege, among other things, violations of the Securities Exchange Act of 1934 due to issuing a series of allegedly false and misleading statements concerning QuadraMed’s business and financial condition between May 11, 2000 and August 11, 2002. Also in October 2002, a shareholders derivative suit was filed on QuadraMed’s behalf in Marin County Superior Court of California against QuadraMed as a nominal defendant and certain of its current and former officers and directors. The derivative action plaintiffs allege that certain of QuadraMed’s current and former officers and directors breached their fiduciary duties to QuadraMed based on assertions similar to those in the federal securities class action litigation. Both actions seek unspecified monetary damages and other relief.

The original complaint charges QuadraMed and certain of its officers and directors with violations of the Securities Exchange Act of 1934. QuadraMed is a healthcare information and technology company that provides software solutions and consulting services to hospitals and medical providers to meet their medical records, business and compliance needs. On August 12, 2002, QuadraMed issued a press release entitled, "QuadraMed to File For Extension For Form 10- Q." The press release stated in part: "QuadraMed Corporation announced today that it will file with the U.S. Securities and Exchange Commission ("SEC") for an automatic 5-day extension of the deadline for submitting its second quarter 2002 Quarterly Report on Form 10-Q. The Company will use the additional five calendar days to complete a restatement of its consolidated financial statements for the fiscal years ended December 31, 2000, 2001, and for the interim period ended March 31, 2002."

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: QMDC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 02-CV-4770
JUDGE: Hon. Samuel Conti
DATE FILED: 10/02/2002
CLASS PERIOD START: 05/11/2000
CLASS PERIOD END: 08/11/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Cauley Geller, Bowman Coates & Rudman, LLP (Boca Raton, FL)
    One Boca Place. 2255 Glades Road, Suite 421A, Cauley Geller, Bowman Coates & Rudman, LLP (Boca Raton, FL), FL 33431
    561.750.3000 561.750.3364 ·
  3. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  5. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 02-CV-4770
JUDGE: Hon. Samuel Conti
DATE FILED: 11/26/2003
CLASS PERIOD START: 04/19/1999
CLASS PERIOD END: 08/14/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Green & Jigarjian LLP
    235 Pine Street, 15th Floor, Green & Jigarjian LLP, CA 94104
    415.477.6700 415.477.6710 ·
  2. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
No Document Title Filing Date