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DETROIT, Dec 08, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
United American Healthcare Corporation (Nasdaq: UAHC), which owns and provides comprehensive healthcare management services to a managed care organization in Tennessee, today issued the following statement regarding a legal motion filed today in Wayne County Circuit Court regarding the Company's planned stock repurchase program:
As a matter of corporate policy, United American Healthcare Corporation does not address the details of pending litigation, other than to strongly assert that the plaintiff's current request for a temporary restraining order to prevent the Company from executing its share repurchase program announced on Dec. 2, is without legal merit. The Company's counsel, Young & Susser, P.C., intends to vigorously defend UAHC's position in this matter.
About United American Healthcare Corporation
United American Healthcare Corporation ("UAHC") is a full-service healthcare management company, pioneering the delivery of healthcare services to Medicaid recipients since 1985. UAHC owns and manages UAHC Health Plan, which is based in western Tennessee and includes the Memphis market. For more information, please visit the Company's web site at www.uahc.com.
United American Healthcare Corporation Safe Harbor Statement
Forward-looking statements by United American Healthcare Corporation, including those in this announcement, involve known and unknown risks, which may cause actual results and corporate developments to differ materially from those expected. Factors that could cause results and developments to differ materially from expectations include, without limitation, the effects of state and federal regulations, the effects of acquisitions and divestitures, and other risks described from time to time in each of United American Healthcare's SEC reports, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and reports on Form 8-K.
SOURCE United American Healthcare Corporation
http://www.uahc.com
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