Request Legal Help Now - Free
LAWSUITS NEWS & LEGAL INFORMATION

WellCare Health Plans Agrees Preliminary $200M Settlement in Securities Fraud Case


This is a settlement for the Securities/Stock Fraud lawsuit.

Tampa, FL: Preliminary approval has been granted by a federal judge in Tampa for a $200 million settlement between WellCare Health Plans Inc. and plaintiffs who filed a securities class action alleging health care fraud.

The settlement calls for WellCare to pay $87.5 million in cash and issue $112.5 million in bonds. A stipulation of the settlement includes the requirement that the company pay $52.5 million into an escrow account within 30 business days following the entry of the preliminary approval order, which would be March 24, the filing said. Final approval is set for May 4 2011.

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.
Published on Feb-11-11


ADD YOUR COMMENT ON THIS ISSUE

Fields marked * are mandatory. Please read our comment guidelines before posting.

*Name:

Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.
Request Legal Help Now! - Free