Class action lawsuits according to the article...BD
A set of legal settlements hurt the bottom line for Health Net Inc. in the third quarter. During the quarter, the company lost $103.8 million, or 93 cents per share, compared with earnings of $90.9 million, or 76 cents a share, in the third quarter a year ago. The current quarter's loss does include charges of $216 million to settle three class action lawsuits known as the McCoy, Wachtel and Scharfman lawsuits; the proposed resolution of regulatory issues with the New Jersey Department of Banking and Insurance; and other litigation matters.
Settlement charges put Health Net in the red - Sacramento Business Journal:
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