Violation Tracker Individual Record

Company: 
WellCare Health Plans Inc.
Current Parent Company: 
Centene
Penalty: 
$200,000,000
Year: 
2010
Date: 
August 9, 2010
Primary Offense: 
investor protection violation
Violation Description: 

In a case brought on behalf of state pension funds in Louisiana and New Mexico as well as other investors, WellCare agreed to pay $200 million to settle allegations that fraudulent Medicaid practices harmed shareholders.

Level of Government: 
state
Action Type: 
agency action
Agency: 
Multistate Attorneys General Case
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
Missouri
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
healthcare services
Specific Industry of Parent: 
managed care
Source of Data: 

AG King Announces Settlement in NM Securities Case; State Investment Council and PERA to Benefit, Targeted News Service, August 9, 2010 (via Nexis).

Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.