In 2011, the health system’s board of directors approved a settlement to end a 2008 lawsuit filed against Wachovia Bank, in which the system attributed investment losses to an alleged broken promise from the bank to put the funds in low-risk investments, according to the report.
Because the settlement was never made public, the public health system is facing allegations from a Charlotte lawyer that the system violated the state’s public record laws, according to the report.
The health system has filed a motion to dismiss the suit, according to the report.
More Articles on Hospital Lawsuits:
10 Recent Investigations, Lawsuits and Settlements Involving Hospitals
AHA, 5 Hospitals Oppose HHS Attempt to Dismiss RAC Lawsuit
UPMC Demands Highmark Withdraw 2009 Antitrust Suit
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
