Skilled Healthcare to Pay $50 Million to Settle After Verdict

Skilled Healthcare to Pay $50 Million to Settle After Verdict

By Pamela A. MacLean and Joe Schneider

Sept. 8 (Bloomberg) — Skilled Healthcare Group Inc. agreed to pay $50 million to settle a case in which a jury found the company improperly staffed its California nursing homes.

The settlement, announced in a statement yesterday, allows Skilled Healthcare to avoid a $677 million damage verdict, the largest jury award in the U.S. this year, according to data compiled by Bloomberg. Skilled Healthcare shares plunged 76 percent after the verdict was announced in July.

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