Pharma Investments, Ventures & Law Weekly
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Amerigroup Corporation
AMERIGROUP Reaches Agreement in Principle to Settle Illinois Qui Tam Litigation
August 10th, 2008
AMERIGROUP Corporation (NYSE:AGP) announced that it has reached a comprehensive settlement agreement in principle that will conclude its civil qui tam litigation relating to certain marketing practices of the Company's former Illinois health plan. The agreement in principle is subject to the completion of definitive settlement documentation by the parties. In 2007, the Court had entered a judgment against the Company and its Illinois subsidiary of approximately $334 million, plus the fees of the Relator's counsel. Under the terms of the proposed settlement, the Company will pay $225 million to the United States and the State of Illinois, plus approximately $9 million in...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-10)
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