Becker's Healthcare July 15, 2024
Current and former Centene board members, along with former senior executives, have beat a pension fund derivative lawsuit alleging the company overbilled state Medicaid programs for pharmacy services.
”Plaintiff has fallen short of demonstrating a majority of Centene’s current directors face a substantial likelihood of liability, either in the maintenance of the Board’s reporting systems, or in failing to respond to the alleged notice of the underlying wrongdoing,” the Delaware Chancery Court wrote July 12.
When Centene acquired Health Net in 2016, the company received favorable reimbursements and discounts for prescription drugs because of Health Net’s contract with CVS Caremark, the lawsuit alleged. The payer did not disclose its arrangements with CVS, and instead reported “inflated expenditures” to state Medicaid...
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