Tenet Healthcare said Thursday it will pay $215 million to settle federal class action litigation stemming from charges that the hospital operator misled investors about Medicare payments. The company said it expects insurance will cover about $75 million, and it will take a $140 million charge against fourth-quarter earnings. In addition, former chairman and chief executive Jeffrey C. Barbakow will pay $1 million and Thomas B. Mackey, former chief operating officer, will pay $500,000.
January 17, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Tenet Healthcare Corp. said Thursday it will pay $215 million to settle federal class action litigation stemming from charges that the hospital operator misled investors about Medicare payments.
The company said it expects insurance will cover about $75 million, and it will take a $140 million charge against fourth-quarter earnings.
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