PE Settlement Illustrates New FCA Liability Theories In Play
By Derek Adams and Jay Watkins (August 3, 2021, 4:23 PM EDT) -- On July 21, the U.S. Department of Justice announced yet another False Claims Act settlement involving a private equity firm's investment in a health care company. The settlement for $15.3 million was reached with the electroencephalogram, or EEG, testing company Alliance Family of Companies LLC, and its Texas-based private investment company Ancor Holdings LP, which will itself pay $1.8 million of the settlement.
The Ancor settlement follows a string of FCA lawsuits brought against private equity firms based on their alleged knowledge of wrongdoing at health care entities in which they invested. In June 2020, former Principal Deputy Assistant Attorney General...
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