Wachtell, Lipton, Rosen & Katz partner Nathaniel D. Cullerton has entered an appearance for Medical Properties Trust and its top officials in a pending shareholder derivative lawsuit. The suit, which pertains to an agreement with tenant Prospect Medical Holdings under which the defendant agreed to forgive over $100 million in unpaid rent in exchange for equity in Prospect's managed care business, PHP Holdings, was filed Dec. 18 in New York Southern District Court by Bronstein, Gewirtz & Grossman and the Brown Law Firm on behalf of Kunihiko Kanno. The suit contends that the defendant failed to disclose that the deal required regulatory approval from California's Department of Managed Health Care. The case, assigned to U.S. District Judge Vernon S. Broderick, is 1:23-cv-10934, Kanno v. Aldag, Jr. et al.
Health Care
February 06, 2024, 7:44 AM