LOUISVILLE, Ky., Feb. 24, 2010 (GLOBE NEWSWIRE) -- ResCare, Inc. (Nasdaq:RSCR) today reported that the New Mexico trial court judge has reduced a December 2009 jury award from $53.9 million to $15.5 million. Ruling on post trial motions filed by the Company in the case of Larry Selk, by and through his legal guardian, Rani Rubio v. Res-Care New Mexico, Inc., Res‑Care, Inc., et al., on February 19, 2010, the Court ordered the punitive damage judgment reduced from $49.2 million to $10.8 million. The compensatory damage judgment of $4.7 million was not changed.
The plaintiff has ten days from the ruling to accept the Court's order under protest or to request a new trial. ResCare retains the right to appeal and intends to continue to defend this matter vigorously.
ResCare, with 35 years of experience helping people reach their highest level of independence, is one of the largest providers of home care to the elderly and persons with disabilities. It also offers residential and support services to people with intellectual and developmental disabilities and provides education, vocational training and job placement for people of all ages and skill levels. For more information about ResCare, please visit the Company's website at www.rescare.com.
From time to time, ResCare makes forward-looking statements in its public disclosures, including statements relating to expected financial results, revenues that might be expected from new or acquired programs and facilities, its development and acquisition activities, reimbursement under federal and state programs, financing plans, compliance with debt covenants and other risk factors, and various trends favoring privatization of government programs. In ResCare's filings under the federal securities laws, including its annual, periodic and current reports, the Company identifies important factors that could cause its actual results to differ materially from those anticipated in forward-looking statements. Please refer to the discussion of those factors in the Company's filed reports. Statements related to expected financial results are as of this date only, and ResCare does not assume any responsibility to update these statements.