(MMGR) Merck and Merck-Medco's Claims Against Medical Manager, CareInsite and Martin J. Wygod Dismissed
BUSINESS WIRE - March 31, 2000 14:59
ELMWOOD PARK, N.J., Mar 31, 2000 (BUSINESS WIRE) -- Merck & Co., Inc.'s (NYSE: MRK) and its wholly owned pharmacy benefit manager subsidiary, Merck-Medco Managed Care, L.L.C.'s, Complaint in the Superior Court of New Jersey against Medical Manager Corporation (NASDAQ: MMGR), CareInsite, Inc. (NASDAQ: CARI) and Martin J. Wygod has been dismissed with prejudice.
By Order entered on March 29, 2000, the Honorable Kenneth MacKenzie of the Superior Court of the State of New Jersey ruled in favor of Medical Manager, CareInsite and Martin J. Wygod and dismissed with prejudice Merck and Merck-Medco's Complaint filed in February 1999 alleging violations of various covenants entered into in connection with the 1993 merger of Medco Containment Services, Inc. with Merck. The Court's action terminates Merck's and Merck-Medco's right to seek any claim for injunctive relief or damages arising out of CareInsite's activities to deploy its healthcare internet connectivity services. Medical Manager's and CareInsite's counterclaims against Merck and Merck-Medco are still pending.
This press release contains certain forward-looking statements. These statements are based on Medical Manager's and CareInsite's current plans and expectations and involve risks and uncertainties that could cause actual future events to be different from those described or implied by such forward-looking statements. Further information about these matters can be found in Medical Manager's and CareInsite's Securities and Exchange Commission filings. Medical Manager and CareInsite expressly disclaim any intent or obligation to update these forward-looking statements |
