Value Health Solutions, Inc. Wins Significant Ruling from NC Supreme Court In Lawsuit to Hold PRA Health Sciences (now known as ICON Plc) Accountable for Promised Payments for Purchase of VHS's Cl...

NEW YORK, Sept. 7, 2023 /PRNewswire/ -- Value Health Solutions today announced a significant victory in the Company's case against PRA. The lawsuit, filed in 2018 in the NC Business Court, stems from PRA's acquisition of VHS's ClinTrial Max software suite and PRA's failure after the acquisition to make certain post-closing payments to VHS as a result of PRA's adoption, use, and licensing of VHS's one-of-a-kind software as part of PRA's clinical trial management business. On appeal from the NC Business Court, the NC Supreme Court reversed key portions of an earlier Business Court ruling, holding that PRA must stand trial for its alleged failure to honor certain contractual obligations to VHS. According to the NC Supreme Court, PRA did not have the right to dictate post-closing development and sales activity to avoid its payment obligations and additionally, there was substantial evidence that PRA's external licensing of VHS's software triggered certain milestone royalty payments.

"We are thrilled with the North Carolina Supreme Court's decision," said Neil Raja, formerly known as Neil Parthasarathy, CEO at Value Health Solutions. "This is a victory for all startups who have been bullied by bigger players in the marketplace  and for all 1st generation Americans who believe in the American dream and the American judicial system. I'm hopeful this decision will have a profound impact on other  entrepreneurs who may find themselves in this position to doggedly pursue   their claims in court and not let an unscrupulous buyer suppress the entrepreneur's dreams. VHS is  grateful to the NC Supreme Court for its ruling and the opportunity to have its case heard.

VHS also wants to highlight its legal counsel, David G. Guidry with the Guidry Law Firm. The Guidry Law Firm has always provided dedicated and zealous advocacy in representing VHS in the NC Business Court and Supreme Court.

The Guidry Law Firm, based in Charlotte, North Carolina, is a business litigation law firm that provides strategic advice, counsel, and advocacy for clients with M&A, contract, or real estate disputes, as well as other types of business disputes. For more information about Guidry Law Firm, please visit guidrylawfirm.com.

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SOURCE Value Health Solutions