Irvine, Calif.
January 9, 2003 Quality Systems, Inc. (NASDAQ:QSII) announced today that it has reached an agreement to settle a consolidated securities class action filed in April 1997 in the California Superior Court, County of Orange. The settlement, which is subject to court approval, will result in the dismissal of the action and the complete release of any and all claims of all participating class members against all defendants, including the Company and all current and former directors and officers of the Company named as defendants. The terms of the settlement call for a cash payment to plaintiffs, fully funded by the Company�s directors and officers liability insurance.
Quality Systems is a developer and provider of computer-based practice management, electronic medical records systems and e-business applications for dental and medical group practices marketed under the QSI and NextGen product names.
This news release may
contain forward-looking statements, including those related to revenue and net income
that involve a number of risks and uncertainties. Among the important factors that
could impact actual results are volume and timing of systems sales and installations,
length of sales cycles and installation process; the possibility that the products
will not achieve market acceptance; seasonal patterns of sales and customer buying
behavior, the development by competitors of new or superior technologies, delays in
product development, undetected errors or bugs in software, product liability,
changing economic, political or regulatory influences on the healthcare industry,
changes in product pricing policies, competitive pressures, possible regulation of
the company's software by the U.S. Food and Drug Administration, general economic
conditions, and the risk factors detailed from time to time in Quality Systems'
periodic reports and registration statements filed with the Securities and Exchange
Commission
For Further Information:
CONTACT:
Quality Systems Inc., Irvine
Louis Silverman,
President & CEO
(949) 255-2600