WESTBOROUGH, Mass., Jan. 5 /PRNewswire/ -- Peritus Software Services, Inc.
(OTC: PTUS.OB), a provider of solutions for software maintenance technology
and services, today announced that the Company has reached a settlement in its
litigation with Micah Technology Services, Inc. & Affiliated Computer
Services, Inc. ("Micah").
The Company filed a lawsuit on April 28, 1999 alleging that Micah breached
its contract to pay for services performed by the Company under a contract
between the parties. Micah denied the claim and subsequently filed a
counterclaim. Under the settlement terms executed December 18, 2000, Micah
agreed to pay Peritus $320,000. In addition, both Micah and the Company have
mutually agreed to a general release from further litigation. "We are pleased
with a final resolution of this matter," said John Giordano, President and
CEO. The Company confirmed that it has received the aforementioned payment.
Accordingly, the revenue will be recorded in the fourth quarter of 2000.
About Peritus
Founded in 1991, Peritus Software Services, Inc. offers products and
services that enable organizations to improve the productivity, effectiveness
and quality of the software evolution process. The Peritus Software Asset
Maintenance (SAM) offerings enable organizations to transform the maintenance
process into an efficient, cost-effective discipline that boosts productivity
and performance.
Contact: Ronald C. Garabedian
Vice President and Treasurer
Peritus Software Services, Inc.
Phone: 508-870-0963
Fax: 508-870-0764
E-mail: rgarabedian@peritus.com
Peritus is a registered trademark of Peritus Software Services, Inc.
SOURCE Peritus Software Services, Inc.
 back to top
Related links:
http://www.peritus.com
Company News On-Call:
http://www.prnewswire.com/comp/123089.html or fax,
800-758-5804, ext. 123089
CONTACT:
Ronald C. Garabedian, Vice President and
Treasurer of Peritus Software Services, Inc., 508-870-0963,
rgarabedian@peritus.com
|
