Florham Park-based Conduent Inc. announced it entered into a settlement agreement with the state of Texas regarding claims related to two previous contracts supporting the state’s Medicaid program.
According to a press release, Conduent will pay Texas $235,942,000 over a period of three years in full settlement of the claims asserted against the defendants.
“We are pleased to put this legacy issue behind us. This settlement provides clarity on the financial impact and we have sufficient liquidity to address it,” said Ashok Vemuri, chief executive officer, Conduent. “Texas remains an important client for us and we are focused on continuing to bring value to our client and its citizens.”
All allegations against Conduent relate to the 2004-2014 time period, when the company was owned by predecessor companies. In the settlement agreement, Conduent denied any improper actions occurred during the performance of the two contracts.