DALLAS, July 13 /PRNewswire-FirstCall/ -- SOURCECORP, Inc. (Nasdaq: SRCP)
a leading provider of business process outsourcing solutions and specialized
high value consulting services announced today that it has reviewed the
complaint filed by JANA Partners LLC against SOURCECORP, Incorporated and its
Directors. SOURCECORP believes the lawsuit is self serving and without merit.
The Company will vigorously defend against it.
The actions that are the subject of the lawsuit have been taken in the
best interests of all the stockholders. Those actions help ensure that all
stockholders and the Board of Directors have adequate time and information to
assess and react to actions taken by third parties or stockholders whose
personal interests may not be aligned with the best interests of the majority
of stockholders.
JANA's actions are an unnecessary and opportunistic distraction from the
progress SOURCECORP has made focusing on its business operations. They are
particularly inexplicable in light of the fact that, throughout our
discussions with JANA, the Board of Directors remained receptive to
considering the appointment of a JANA nominee to the Board of Directors.
About SOURCECORP(R)
SOURCECORP, Incorporated provides business process outsourcing solutions
and specialized high value consulting services to clients throughout the
U.S. SOURCECORP focuses on business processes in information-intensive
industries including commercial, financial, government, healthcare, and legal.
Headquartered in Dallas, the Company serves clients throughout the United
States through a network of locations in the U.S., Mexico and India.
SOURCECORP is a component of both the S&P SmallCap 600 Index and the
Russell 2000 Index. The Company has been cited among the Top 100 Hot Growth
Companies by BusinessWeek magazine (2001). SOURCECORP has also been recognized
twice by Forbes magazine as one of the 200 Best Small Companies (1998, 1999),
based on return equity, sales growth, and EPS growth, and by FORTUNE magazine
as one of America's 100 Fastest Growing Public Companies (1999). For more
information about SOURCECORP's solutions, including case-study examples, visit
the SOURCECORP website at http://www.sourcecorp.com .
The statements in this press release, which are not historical fact, are
forward-looking statements that involve risks and uncertainties, which could
cause actual results to differ materially from such forward-looking
statements. These forward-looking statements include, but are not limited to,
any financial estimates, projections, and estimates of future contract values
included in this press release. The aforementioned risks and uncertainties
include, without limitation, the risks of integrating our operating companies,
of the timing and magnitude of technological advances, of the occurrences of a
diminution in our existing customers' needs for our services, of a change in
the amount companies outsource business processes, of the impact to margins
resulting from a change in revenue mix as well as the risks detailed
in SOURCECORP's filings with the Securities and Exchange Commission, including
without limitation, those detailed under the heading "Risk Factors" in the
Company's most recent annual report on Form 10-K. SOURCECORP disclaims any
intention or obligation to revise any forward-looking statements, including
financial estimates, whether as a result of new information, future events, or
otherwise, except as required by law.
SOURCE SOURCECORP
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Related links:
http://www.sourcecorp.com
CONTACT:
Barry L. Edwards, Executive Vice President
and Chief Financial Officer of SOURCECORP, +1-214-740-6690, or
barryedwards@srcp.com
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