Health Net Could Pay $180M Over Failed HMOs

Law360, New York (April 5, 2011, 8:16 PM EDT) -- Health Net Inc. said Monday that it would likely have to pay $180 million in compensatory and punitive damages after the Louisiana Supreme Court overturned the insurer's victory in litigation over the sale of three failed health maintenance organizations.

The Louisiana Supreme Court reinstated an initial award of compensatory and punitive damages to insurance regulators in Louisiana, Texas and Oklahoma on Friday, saying that a lower appellate court fundamentally misunderstood the facts in the case when it allowed Health Net to escape with only a breach...
To view the full article, register now.