Adeptus $44 Million Securities Settlement Gets Final Approval

The Eastern District of Texas approved a $44 million securities settlement to resolve claims the nation’s largest free-standing emergency department operator misled investors about cash flow and liquidity, causing them to purchase Adeptus Health Inc. stock at inflated prices.

Allegations under the Securities Exchange Act included, among other things, that Adeptus misrepresented the profitability of joint ventures with hospitals and engaged in fraudulent billing practices, charging for higher levels of service than what were or should have been provided to certain patients.

Plaintiffs’ expert estimated maximum aggregate damages to be as high as $850 million but, according to class counsel, ...