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Centene’s $1.3 Billion Billing Fraud Scandal Draws Investor Suit [1]

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Date: 2023-02

A pension fund sued Centene Corp.'s senior leaders, blaming them for the estimated $1.25 billion the insurance company says it will pay to resolve Medicaid fraud claims by roughly two dozen states.

The shareholder derivative lawsuit, filed in Delaware’s Chancery Court, targets 11 current and former members of the board and C-suite at Centene—the top provider of Medicaid health plans—which has allegedly paid nearly $600 million so far to resolve claims by 13 states.

The 130-page complaint accuses the board of looking the other way while Centene inflated bills to state health agencies by exaggerating reimbursement rates and prescription costs. ...

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[1] Url: https://news.bloomberglaw.com/esg/centenes-1-3-billion-billing-fraud-scandal-draws-investor-suit

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