NextGen Healthcare Fully Prevails in Hussein Trial Jury Verdict

Rhea-AI Summary

NextGen Healthcare (Nasdaq: NXGN) announced a favorable jury verdict on July 29, 2021, in the lawsuit Ahmed D. Hussein v. Sheldon Razin, Steven Plochocki, and Quality Systems, Inc., affirming no financial liability for the company. The verdict concluded a case initiated in October 2013, ensuring that no adjustments are necessary to Q1 FY22 financials reported earlier that day. NextGen will submit its Quarterly Report on Form 10-Q on July 30, 2021.

Positive

• Favorable jury verdict eliminates financial liability for NXGN.
• No adjustments needed for Q1 FY22 financials following the verdict.

Negative

• None.

NextGen Healthcare, Inc. (Nasdaq: NXGN), a leading provider of ambulatory-focused technology solutions, announced that the Ahmed D. Hussein v. Sheldon Razin, Steven Plochocki and Quality Systems, Inc. lawsuit filed in the Superior Court of the State of California for the County of Orange on October 7, 2013 concluded on July 29, 2021 with a jury verdict in favor of the Company and Messrs. Razin and Plochocki on all counts with no financial liability for the Company. As such, no adjustments are necessary to the Company’s Q1FY22 financials, which were reported on July 29, 2021, just over an hour before the jury returned its verdict. The Company will file its Quarterly Report on Form 10-Q today on Friday, July 30, 2021.

Safe Harbor Provision

Please refer to the Q1F22 earnings release dated July 29, 2021 for Safe Harbor Provisions and Forward-Looking Statement.

About NextGen Healthcare, Inc.

NextGen Healthcare, Inc. (Nasdaq: NXGN) is a leading provider of ambulatory-focused technology solutions. We are empowering the transformation of ambulatory care—partnering with medical, behavioral, and dental providers in their journey to value-based care to make healthcare better for everyone. We go beyond EHR and PM. Our integrated solutions help increase clinical productivity, enrich the patient experience, and ensure healthy financial outcomes. We believe in better. Learn more at nextgen.com, and follow us on Facebook, Twitter, LinkedIn, YouTube and Instagram.

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FAQ

What was the outcome of the lawsuit involving NXGN?

The lawsuit concluded with a jury verdict in favor of NextGen Healthcare, affirming no financial liability.

When was the NXGN lawsuit verdict announced?

The jury verdict was announced on July 29, 2021.

Will NXGN's Q1 FY22 financials be affected by the lawsuit?

No adjustments are necessary to NXGN's Q1 FY22 financials due to the favorable verdict.

What is the lawsuit Ahmed D. Hussein v. NXGN about?

It was a lawsuit that involved claims against NXGN's executives and the company itself.