DaVita Settles Lawsuit for $55 Million
NEW YORK (TheStreet) -- DaVita Inc. (DVA) announced Tuesday it has settled a lawsuit over its use of an anemia medication for $55 million.
Filed 10 years ago in a federal court in Texas, the lawsuit was based on one person's claim that the dialysis service provider overused Epogen, an anemia drug.
In a news release about the settlement, The Denver-based company said it and its physicians did nothing wrong and "stand by" their anemia management practices.
DaVita added that a government investigation into the Epogen-overuse claims hasn't yielded government intervention or claims.
The company also said the settlement contains no admissions of liability by the company or its affiliated physicians. "Nonetheless, agreements such as this one are sometimes in the best interest of shareholders," DaVita said in a news release. DaVita shares closed Tuesday up 9 cents at $97.71. U.S. stock markets were closed Wednesday in observance of the July Fourth holiday.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
