Oak Street Health, Subsidiary Of CVS Health, Agrees To Pay $60M To Settle Alleged False Claims Act Violations For Paying Kickbacks To Insurance Agent
Portfolio Pulse from Benzinga Newsdesk
Oak Street Health, a subsidiary of CVS Health, has agreed to pay $60 million to settle allegations of violating the False Claims Act by paying kickbacks to an insurance agent. This settlement was reported by Reuters, citing the Department of Justice.
September 18, 2024 | 6:23 pm
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NEGATIVE IMPACT
CVS Health's subsidiary, Oak Street Health, is involved in a $60 million settlement over alleged False Claims Act violations. This legal issue could impact CVS's reputation and financials.
The settlement involves a significant amount ($60M) and relates to legal issues, which can negatively impact CVS Health's reputation and financials. As Oak Street Health is a subsidiary, CVS is directly affected.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80