Ala. Judge Gives Initial OK To $2.67B BCBS Antitrust Deal
By Jeff Montgomery (December 1, 2020, 4:57 PM EST) -- Citing "historic and substantial" structural reform terms and a massive, $2.67 billion class damage award, a federal judge in Alabama granted preliminary approval late Monday to a settlement of claims that the nation's Blue Cross plans conspired for years to thwart competition nationwide.
U.S. District Judge R. David Proctor noted in his memorandum opinion that the agreement in the Northern District of Alabama includes one of the largest class payouts in history, in a case that alleged a long-running health insurance market-control conspiracy affecting tens of millions of insured members.
The ruling, which followed a hearing in November, brought closer to...
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