Anthem ‘Running a Scam’ With $50 Million Deal Payment, Suit Says

May 10, 2021, 4:01 PM

Anthem Inc. was hit with a $50 million lawsuit in Delaware claiming the insurance giant is “running a scam” based on its “bad-faith policy” of holding back post-deal escrow payments over “bogus” indemnification concerns involving the companies it acquires.

Anthem “is a serial litigant known for making baseless indemnity claims,” the complaint says. “Now it is time to confront Anthem’s scheming.”

Anthem didn’t immediately have a comment Monday.

The lawsuit, filed May 7 in Delaware Chancery Court, stems from the $153 million sale to Anthem in 2018 of Freedom Health Inc. and Optimum Healthcare Inc., two insurers founded by Florida ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.