By Christopher Cole (July 23, 2021, 7:57 PM EDT) -- Health care providers suing Blue Cross in a massive antitrust case cannot justify billions in damages because they are relying on a merely speculative "snowball" effect of conduct stretching back decades, the insurance giant told an Alabama federal judge Friday.
The provider plaintiffs, who are still pursuing their track of the multidistrict litigation after Blue Cross Blue Shield subscribers settled their own claims last year for a $2.67 billion class payout, are trying to secure at least $15 billion after trebling for antitrust damages in the Alabama market alone.
BCBS and the array of affiliated insurers who are named as defendants...
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