UpHealth Comments on Needham Action Ruling
UpHealth, Inc. (UPH)
Company Research
Source: GlobeNewswire
Believes Court Erred by Ignoring Settled New York Law and Decades of Precedent Company is Exploring All Options in Response to Ruling DELRAY BEACH, Fla., Sept. 18, 2023 (GLOBE NEWSWIRE) -- UpHealth, Inc. (“UpHealth,” the “Company,” “we” or “us”) (NYSE: UPH), a global digital health company delivering technology platforms, infrastructure, and services to modernize care delivery and health management, today provided an update on the legal action Needham & Company LLC v. UpHealth Holdings, Inc. and UpHealth Services, Inc. (the “Needham Action”), which arose out of UpHealth Services, Inc.’s engagement of Needham & Company, LLC (“Needham”) to provide placement and other financial advisory services. The trial court in New York issued a Decision and Order on September 14, 2023 granting summary judgment in favor of Needham. The Decision and Order provides that Needham is entitled to fees in the amount of $31,345,000, plus interest. The Company provided t
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