Law360, New York (April 11, 2011, 3:22 PM ET) -- Community Health Systems Inc.'s hostile bid for Tenet Healthcare Corp. got uglier Monday when the targeted hospital operator filed a securities fraud suit in Texas claiming its suitor routinely overbills Medicare to boost earnings.
Tenet shareholders are at risk of being harmed by "the improper and undisclosed practice," the Dallas-based plaintiff alleges in the U.S. District Court for the Northern District of Texas in a complaint that also names CHS CEO Wayne T. Smith and CFO W. Larry Cash as defendants.
The suit opens a new...
Tenet Lobs Fraud Suit At Hostile Suitor CHS
To view the full article, take a free trial now.
