Miss. Hospital Pays $156M To Settle Pension Fraud Suits

Law360, New York (January 4, 2016, 8:29 PM EST) -- Mississippi-based hospital system Singing River Health Services agreed to pay $156 million on Sunday to settle federal class actions and two state suits accusing it of failing to make annual required contributions into a retirement fund, according to a filing in a Mississippi federal court.

Singing River Health Services Foundation agreed to make about $149.5 million in contributions over 35 years into a retirement trust and pay the plaintiffs' attorneys more than $6.5 million to settle claims in three consolidated federal class actions and two state suits accusing the organization of underfunding its retirement plan and not disclosing the true state...

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