Cerner has struck a settlement agreement with one of its customers which will force the giant IT vendor to take significant charge against its fourth-quarter earnings.
The client, Trinity Medical Center of Minot, N.D., claimed last year that the patient accounting software sold by Cerner in 2008 was defective and didn’t deliver on the promised business benefits.
In the suit, the medical center asked for $240 million in damages, while Cerner only estimated damages of $4 million. To settle the matter, the two parties agreed to go into arbitration, according to a report in the Wall Street Journal. Read more..
