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Case ID: 4337 | Drugs / Medical | 10/18/2005
WellPoint Inc., the nation's biggest publicly traded health insurer, said July 11, 2005 it will pay up to $198 million to settle two class-action lawsuits brought by representatives of more than 700,000 doctors over alleged unfair payment practices.
As part of the settlement, the Indianapolis-based company said it has agreed to pay $135 million to doctors and contribute $5 million to a nonprofit foundation aimed at improving health care for the disadvantaged. It also said it would pay legal fees of up to $58 million, in an amount to be determined by the court. The physicians contended they have been systematically cheated by insurance companies that programmed computers to pay for less intensive services than were actually provided. The settlement will result in a pretax expense of $103 million, which will cut second-quarter earnings by 10 cents per share after taxes. WellPoint, the nation's leading health benefits provider with 28.5 million members, operates mainly under the names Blue Cross and Blue Shield. If approved by the U.S. District Judge Federico Moreno, the agreement will settle two national lawsuits against WellPoint Health Networks Inc. and Anthem Inc., which merged last year to create the current company. One suit pitted a nationwide class of physicians against major national managed care companies, while a second lawsuit was brought against the Blue Cross Blue Shield Association and Blue Cross and Blue Shield companies, WellPoint said. Health Net, Prudential, Aetna and Cigna previously settled with the doctors. Coventry, United Health, PacifiCare and Humana remain as defendants, with the case set for trial in Miami in January. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Drugs / Medical Cases of Interest Studies have now shown that light cigarette smokers compensate in various ways to make up for reduced levels of nicotine that they get. Two class actions have been filed against R.J. Reynolds Tobacco Company and Philip Morris USA, Inc., respectively, on behalf of all current or former smokers of Marlboro Lights, Camel Lights, Salem Lights, and Winston Lights in the state of Washington. The actions allege that the companies’ marketing strategies violate state consumer protection laws by actively concealing the fact that light cigarette smokers not only get as much or more tar as regular smokers, but may be smoking a more addictive product as well. Kahn Gauthier Swick is investigating possible legal actions against Ethicon Inc. on behalf of women who were harmed by the use of GYNECARE INTERGEL Adhesion Prevention Solution in the course of gynecological or other surgery. State and federal laws protect workers from exposure to harmful substances. A class action has been filed against Bechtel Corporation and related companies on behalf of workers and visitors who worked on tunnels at the U.S. Department of Energy's Yucca Mountain site, who allege that contractors and subcontractors knowingly exposed them to toxic dusts and gases from 1992 to 2003 and intentionally concealed the dangers. Bayer AG Accused of Using Anthrax Attacks to Maximize Drug Profits at the Expense of Consumer Safety The terrorist attacks of the past two years have created a time to make big profits as well as a time of uncertainty. A class action has been filed against German drug manufacturer Bayer AG and several New Jersey hospitals on behalf of New Jersey postal workers who allege that they have suffered serious side effects from taking the antibiotic ciprofloxacin (Cipro) in the aftermath of the anthrax attacks in 2001. The action alleges that Bayer failed to warn the postal workers of the potential side effects of Cipro, thereby violating the New Jersey Consumer Fraud Act.
A class action has been filed against Ligand Pharmaceuticals, Inc., a San Diego, CA based biopharmaceutical company (NASDAQ: LGND) and certain of its officers and directors by stockholders who purchased the company’s common stock between July 28, 2003 and August 2, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A small number of men have lost eyesight in one eye some time after taking Viagra, Cialis, or Levitra. This type of vision loss is called non-arteritic anterior ischemic optic neuropathy (NAION). NAION causes a sudden loss of eyesight because blood flow is blocked to the optic nerve. |
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