American Dental Partners Provides Further Update on Lawsuit
13 Dezember 2007 - 8:37PM
Marketwired
WAKEFIELD, MA announced the jury's verdict with respect to
punitive damages in the trial related to the litigation between
PDG, P.A. ("PDG") and PDHC, Ltd. ("PDHC"), one of the Company's
Minnesota subsidiaries, and the Company. The trial, which began on
November 13, 2007, was held in the District Court of Hennepin
County, Minnesota ("Court"). The Company previously announced the
jury's verdict with respect to liability for claims and
compensatory damages.
The jury awarded PDG punitive damages in the aggregate amount of
$42,250,000 with respect to the claim of tortious interference with
contract and prospective advantage.
Today, the Court has ordered the parties to engage in mediation,
which is expected to commence on December 14, 2007.
American Dental Partners is one of the nation's leading business
partners to dental group practices. The Company is affiliated with
26 dental group practices which have 261 dental facilities with
approximately 2,301 operatories located in 18 states.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: With the exception of the historical
information contained in this news release, the matters described
herein contain "forward-looking" statements that involve risk and
uncertainties that may individually or collectively impact the
matters herein described, including but not limited to the
possibility that we may not realize the benefits expected from our
acquisition and affiliation strategy, economic, regulatory and/or
other factors outside the control of the Company, which are
detailed from time to time in the "Risk Factors" section of the
Company's SEC reports, including the annual report on Form 10-K for
the year ended December 31, 2006.
Contacts: Gregory A. Serrao Chairman, President and Chief
Executive Officer 781-224-0880 Breht T. Feigh Executive Vice
President, Chief Financial Officer and Treasurer 781-224-0880
American Dental Partners, Inc. 401 Edgewater Place, Suite 430
Wakefield, MA 01880 Phone: 781/224-0880 Fax: 781/224-4216
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