Tenet To Pay $215M To Settle Shareholder Suit

Law360, New York (January 12, 2006, 12:00 AM EST) -- Hospital chain Tenet Healthcare Corp. has agreed to pay $215 million to settle securities class action suits that claimed the company filed false and misleading reports regarding its Medicare receipts.

The settlement, which will close cases stemming from Tenet’s alleged false and misleading statements about its Medicare revenues in 2002, is awaiting court approval. An ongoing investigation by the Securities and Exchange Commission is looking at claims that the Dallas company tried to cover up the alleged fraud.

“These settlement agreements represent an equitable conclusion to...
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