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Pension & Health/
Welfare Funds
Pension funds and health and welfare funds throughout the country have been victimized by the unethical practices of corporations, drug companies, accounting companies, stockbrokers, and brokerage houses. Examples of cases in this area include: (1) securities fraud claims to recover decrease in stock value due to corporate fraud and misconduct; (2) health care fraud actions by welfare funds to recover excessive charges due to misconduct by hospitals and other health care entities; (3) anti-trust claims to recover excessive prescription drug charges and other costs due to corporate collusion and misconduct; and (4) cost-recovery claims where welfare funds have paid for health care treatment resulting from defective or dangerous drugs. If you have lost money and you think it was because of any of the four mentioned reasons above, then you may have legal recourse for recovery.
Pension Funds: Pension funds and their trustees have an important role in fighting securities and in recovering loss of stock value. The fiduciary obligations of trustees make it vital that actions be taken to recover losses due to securities fraud. Private securities litigation is an indispensable tool with which defrauded investors can recover their losses without having to rely upon government action.
Health Care Fraud: Studies have shown that health care fraud costs health and welfare plans and others billions of dollars each year. The fraudulent schemes take on many forms, from system billing for services that were not provided, to sophisticated up-coding of services that were provided to beneficiaries. For many of the same reasons trustees of Pension Funds should investigate and pursue securities fraud claims, trustees of health and welfare funds should consider health care fraud actions.
Prescription Drug Price Fixing: In recent years, prescription drugs have presented the most rapidly increasing cost component of health care. Research has found that many of the price increases have resulted from price fixing, market collusion, and other misconduct by prescription drug companies and distributors.
Cost Recovery for Defective Drugs: Health and Welfare Funds almost always have subrogation rights that may be exercised when a defective drug causing the Fund to spend significant amounts for medical care. One case that has received a great deal of publicity is the diet drug phen-fen. If that drug caused any of your beneficiaries heart or other problems and you expended significant sums on health care as a result, you may be entitled to recover some or all of those funds.
James F. Humphreys & Associates will not allow you and your business to be victimized by unethical practices of pension fraud. If you believe you have been wronged out of money that is legally yours, contact the attorneys of James F. Humphreys & Associates. Fill out your free case evaluator now.