May 10 2007
Greenwood Village, CO: (May-07-07) A federal lawsuit was filed against software and services company Quovadx Inc. and has reached settlement after a federal court in Colorado approved a $7.8 million settlement of the final class action shareholder lawsuit. The suit stemmed from Quovadx Inc.'s restatement of certain results in 2004. This lawsuit was originally filed on May 17, 2004. Under the terms of the approved settlement, class members and their counsel received $7.8 million in exchange for their release with prejudice of all claims that were or could have been asserted against the company and the former individual defendants arising out of, or relating to, the acquisition of Quovadx common stock in connection with Quovadx's December 2003 exchange offer for all of the outstanding shares of Rogue Wave Software, Inc.
[BUSINESS WIRE: QUOVADX SETTLEMENT
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