SEC Probes Embattled CHS' Medicare Billing

Law360, New York (May 19, 2011, 3:40 PM EDT) -- Ten days after abandoning a hostile bid for Tenet Healthcare Corp. that triggered a fraud suit and class action, Community Health Systems Inc. is grappling with more fallout, disclosing Tuesday that securities regulators and prosecutors are studying its Medicare billing.

As late as April, Franklin, Tenn.-based CHS was playing offense, vowing to supplant Tenet's slate of directors and take over the Dallas-based target via a hostile bid. But on April 11 Tenet swung a roundhouse punch in the form of a suit claiming CHS routinely overbills...
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