UHS Execs Over-Admitted Patients For Profit, Investor Says

Law360, New York (May 15, 2017, 3:08 PM EDT) -- Universal Health Services’ senior executives and directors have knowingly overlooked the hospital operator’s over-admittance of patients and wrongly billed government agencies for the fees, artificially boosting the price of shares that executives and directors then sold at a profit, according to a derivative complaint filed Friday in Pennsylvania federal court.

The Central Laborers’ Pension Fund said UHS’ board of directors and certain senior executives ignored warnings that the company was over-admitting patients and charging Medicare and Medicaid for the services in violation of the False Claims Act, thereby falsely inflating its financial statements and the price of UHS shares. The alleged...

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