Derivative Suit Claims HMA Execs Bilked Medicare

Law360, New York (January 23, 2013, 3:48 PM EST) -- A Massachusetts retirement system on Tuesday slapped board members at hospital chain Health Management Associates Inc. with a shareholder derivative suit in Florida federal court alleging “rampant Medicare fraud” by the company has put investors in serious financial jeopardy.

The City of Haverhill Retirement System's lawsuit, only the latest of several recent complaints to allege widespread billing misconduct at the company, says shareholders are the hook for massive legal defense bills and the cost of responding to subpoenas from the Office of Inspector General at the...
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