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AMS Settles Lawsuit with Insurance Co.
(From Newsbytes)
Byline: Kyle Balluck
American Management Systems Inc., a Fairfax IT consulting firm, today said it has resolved its dispute with an insurance company related to AMS' litigation with the State of Mississippi.
AMS said it would receive $43 million in cash from National Union Fire Insurance Co. in the fourth quarter.
Last year, a jury in Jackson, Miss., ordered AMS to pay the state of Mississippi $474.5 million after a protracted dispute over completion of a three-year, $11.9 million contract signed in 1994 that called for AMS to develop software to track collection of the state's 36 taxes. AMS combined its portion of ...
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