Bank of America Settles with Premier Information Management, Inc.

Bank of America Corp (NYSE: BAC) and Premier Information Management, Inc. (PINKSHEETS: PIFR) have entered into a pre-jury settlement in a lawsuit between the two companies which will eventually lead to a resulted in a court ordered settlement.

The settlement included a non-disclosure pact so that neither Primer Information Management of Bank of America Corp (NYSE: BAC) will release any details or terms of the settlements to the public.

“Premier is very glad to conclude this lawsuit sooner than we thought and that leaves us in a position to focus on the business and more aggressively take Premier forward,” said CEO Tom Miller.

“Although we cannot be specific about the terms of the settlement, I think it is only fair to note that as with most settlements brought about by mediation, neither party was absolutely satisfied with the result, but Premier can now refocus significant resources to the real business at hand,” said David Stothart.

Premier is expected to make additional news releases about the settlement process.

Premier Information Management, Inc. provides business critical information to the global Insurance and Healthcare industries by integrating fast and efficient database driven electronic content management systems to reduce and manage costly risk. Utilizing proprietary software with specially integrated modules, Premier realizes significant increases in data-in/out-report efficiencies delivering decision-critical reports significantly faster than the industry standard. Utilizing the most secure, flexible, and cost effective means to capture, manage and transmit sensitive information, Premier’s EDI solutions are the new standard in the information management industry.