WellCare Health Plans Settles Class-Action Lawsuit for $200 Million

According to Reuters, WellCare Health Plans (WCG) said it would settle a shareholder class-action lawsuit in a 0 million settlement. The lawsuit, related to accounting errors, will be settled with the insurer paying .5 million within 30 days of the court’s approval and million by July 31, the report said. The report said the company will also issue tradable unsecured bonds worth 2.5 million. WellCare shares are up 6.2%, or .71, to .26.
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