PwC, Milliman To Pay $7M To Settle Hospital RICO Claims

Law360, New York (January 11, 2012, 10:54 PM EST) -- PricewaterhouseCoopers LLP and Milliman Inc. will pay about $7 million to exit a Tennessee class action brought by 127 hospitals in multidistrict litigation accusing Wachovia Bank NA and others of participating in a scheme to hide the downfall of the reinsurer Reciprocal of America, the companies said Wednesday.

The hospitals, PwC and Milliman filed a joint motion for preliminary approval of the class action settlement after years of negotiations to end a major battle in an eight-year-old MDL alleging the companies participated in a racketeering fraud...
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