Law360, New York (October 25, 2011, 8:14 PM EDT) -- Nursing home operator Omnicare Inc. was hit Friday with a putative shareholder class action in Kentucky, marking the latest suit alleging the company hid continued Medicare and Medicaid fraud even after reaching several multimillion-dollar settlements with state and federal authorities.
The suit alleges Omnicare hid continued Medicare fraud until August 2010, when it revealed a 2009 qui tam suit brought by John Stone, the company’s former vice president of internal audit. The federal government has since joined Stone's whistleblower suit.
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