Investors Seek OK Of $44M Settlement With ER Operator
By Elise Hansen (April 16, 2020, 6:01 PM EDT) -- Investors in Adeptus Health have reached a $44 million cash settlement with the emergency room operator that could resolve claims that the company and its executives misled investors in securities offerings, according to documents filed in Texas federal court.
A proposed class of investors led by two pension funds urged the court Wednesday to grant final approval of the settlement, saying the $44 million represents a "substantial and favorable recovery."
Adeptus Health Inc. went bankrupt in 2017 and the investors have yet to prove their claims, so a settlement is the best route, lead plaintiffs Alameda County Employees' Retirement Association and...
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