LOUISVILLE, Ky., April 11 /PRNewswire-FirstCall/ --
Almost Family, Inc. (Nasdaq: AFAM) today announced that it intends to seek
appellate review of a decision entered by the Chancery Court for Williamson
County, Tennessee, awarding damages in the amount of $984,970 to Franklin
Capital Associates, L.P.
In this litigation, Franklin claimed damages in connection with stock
registration rights it received in connection with Almost Family's acquisition
of certain home health operations in 1991. The complaint alleged that Almost
Family failed to use its best efforts to register the shares held by Franklin
as required in connection with the acquisition.
The Tennessee court dismissed the claims of fraud against Almost Family,
but ruled in favor of Franklin with respect to its breach of contract action.
Responding to the Tennessee court's decision, Almost Family stated that it
believes it has strong grounds for appealing the trial court's decision and
intends to vigorously pursue its appellate challenges.
Almost Family, Inc. is a health services company providing adult day
health care services focused on providing alternatives for seniors and other
special needs adults who wish to avoid nursing home and other institutional
placement. The Company also operates a chain of Medicare-certified home
health agencies under the trade name "Caretenders(TM)". The Company has
operations in Alabama, Connecticut, Florida, Indiana, Kentucky, Maryland,
Massachusetts and Ohio.
Contact: William Yarmuth or Steve Guenthner (502) 899-5355
All statements, other than statements of historical facts, included in
this news release, are forward-looking statements. These forward-looking
statements are based on the Company's current expectations. Although the
Company believes that the expectations expressed or implied in such forward-
looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct.
Because forward-looking statements involve risks and uncertainties, the
Company's actual results could differ materially. For a discussion regarding
factors which could affect the Company's financial performance, refer to the
Company's Securities and Exchange Commission filing on Form 10-K for the year
ended December 31, 2002, in particular information under the headings
"Business" and "Management's Discussion and Analysis of Financial Condition
and Results of Operations." The Company disclaims any intent or obligation to
update its forward-looking statements.
SOURCE Almost Family, Inc.
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Related links:
http://www.almost-family.com
Company News On-Call:
http://www.prnewswire.com/gh/cnoc/comp/784275.html
CONTACT:
William Yarmuth or Steve Guenthner, both of
Almost Family, Inc., +1-502-899-5355
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