All of these allegations 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.

“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.”

Pursuant to the terms of the agreement, the company will pay the state $235,942,000 over a period of three years in full settlement of the claims asserted against the defendants.

For additional information, please see previous disclosures regarding this matter in the company’s prior SEC filings.