Financial Crime Weekly: DaVita Agrees To Pay $34.5M For Kickbacks, Hospice Provider Doles Out $19.4M For False Claims
Portfolio Pulse from Michael Juliano
DaVita Inc. (NYSE:DVA) agreed to pay $34.5 million for allegedly paying kickbacks to competitors and physicians for patient referrals, violating the False Claims Act. Gentiva Health Services will pay $19.4 million for submitting false claims for ineligible hospice services. Hemisphere GNSS, acquired by CNH Industrial N.V. (NYSE:CNH), will pay $2.6 million for false claims related to a Paycheck Protection Program loan.
July 19, 2024 | 6:35 pm
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NEGATIVE IMPACT
Hemisphere GNSS, acquired by CNH Industrial N.V. (NYSE:CNH), will pay $2.6 million for false claims related to a Paycheck Protection Program loan.
The $2.6 million settlement for false claims related to a PPP loan may have a minor negative impact on CNH Industrial's stock price due to the relatively small financial penalty and potential reputational damage.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
DaVita Inc. (NYSE:DVA) agreed to pay $34.5 million for allegedly paying kickbacks to competitors and physicians for patient referrals, violating the False Claims Act.
The $34.5 million settlement for kickbacks and violation of the False Claims Act is likely to negatively impact DaVita's stock price in the short term due to potential reputational damage and financial penalties.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100