HCA To Pay $215M To Settle Shareholder Class Action

Law360, New York (November 4, 2015, 3:41 PM EST) -- HCA Holdings Inc. on Wednesday said it will pay $215 million to shareholders to settle a class action in Tennessee federal court alleging that the health care company didn’t tell investors about performing unnecessary but profitable heart procedures before its initial $4.3 billion initial public offering.

The shareholders agreed to drop their claims against HCA, its officers and directors, the underwriters and a majority shareholder at the time of the offering, according to filings with the U.S. Securities and Exchange Commission.

The class action, which was...
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