Precis (NASDAQ:PCIS)
Historical Stock Chart
From Jul 2019 to Jul 2024
![Click Here for more Precis Charts. Click Here for more Precis Charts.](/p.php?pid=staticchart&s=N%5EPCIS&p=8&t=15)
Precis, Inc. Receives Favorable Ruling in Superior Court of
California
GRAND PRAIRIE, Texas, June 29 /PRNewswire-FirstCall/ -- The Capella Group,
Inc., a subsidiary of Precis, Inc. (NASDAQ:PCIS) that does business as "Care
Entree" received a favorable ruling Tuesday in a case pending in the Superior
Court of California, Los Angeles County.
Judge Edward Ferns denied the motion of the plaintiffs, Manuela and Juan
Zermeno, for a judgment that Care Entree's operations violated Section 445 of
the California Health and Safety Code, a provision that governs medical
referral services. In denying the motion, the judge ruled that only the
Attorney General, not individual plaintiffs like the Zermenos, has standing to
bring an action under Section 445.
In a related claim, Judge Ferns declined to rule on the Zermeno's motion for
relief under California's unfair competition law (Section 17200 of the Business
and Professions Code) due to flaws in their motion. It is unknown whether or
not the Zermenos intend to attempt to correct those flaws.
"Care Entree is pleased with the judge's rulings today. His decision on the
Section 445 matter is consistent with the position we have argued since this
case was filed," said Eliseo Ruiz III, Vice President and General Counsel for
Precis, Inc. "We hope to have a final and favorable resolution of this case
soon," he added.
The Zermenos are former members of the Care Entree program. They brought their
action in September 2003, seeking damages along with equitable and injunctive
relief on behalf of the general public of California. Other claims brought by
the Zermenos in their lawsuit were settled by the company in 2004.
"The timing for a favorable ruling in this case couldn't have been better, as
we recently completed strategic management changes and will soon launch our new
product lines. We look forward to getting this uncertainty finally behind us,"
says Frank Apodaca, President of Precis, Inc.
About Precis, Inc.
Precis, Inc. and its subsidiaries market non-insurance health care savings
programs, administer tax-favored reimbursement accounts, provide third party
administration services to self funded employer groups and offer a broad range
of financial solutions such as health and life insurance to individuals and
businesses. For more information on Precis, its subsidiaries Care 125, Care
Financial, LLC, and Access Administrators visit http://www.precis-pcis.com/,
http://www.care125.com/, and http://www.care-financial.com/,
http://www.ahs-access.com/ respectively.
Contact:
Eliseo Ruiz III Joe Diaz
General Counsel The RCG Group
Precis, Inc. 480-675-0400
972-343-6500
Annemarie Marek
Marek & Company
469-235-2166
DATASOURCE: Precis, Inc.
CONTACT: Eliseo Ruiz III, General Counsel of Precis, Inc.,
+1-972-343-6500; or Joe Diaz of The RCG Group, +1-480-675-0400; or Annemarie
Marek of Marek & Company, +1-469-235-2166, both for Precis, Inc.
Web site: http://www.precis-pcis.com/
http://www.care125.com/
http://www.care-financial.com/
http://www.ahs-access.com/