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Saturday, June 16, 2012

Ind. Decisions - More on "WellPoint, Inc. Agrees to Pay $90 Million to Settle Class Action Suit"

Updating this ILB entry from yesterday (which includes a link to the settlement agreement), Jeff Swiatek has a report today for the Indianapolis Star. A few quotes:

Judge Tanya Walton Pratt, who is overseeing the case Ormond v. Anthem Inc. in U.S. District Court in Indianapolis, must review the settlement before it can become final.

The payouts by check to former policyholders may not happen until next year, given the legal processes that the deal still must go through in court, said Eric Zagrans, Elyria, Ohio, an attorney for the plaintiffs.

Plaintiffs co-counsel Kathleen DeLaney, Indianapolis, said the $90 million settlement is one of the largest settlements of its kind reported in Indiana. Other class members mostly are from Ohio, Kentucky and Connecticut.

If split equally among 700,000 people, the settlement payout would come to about $128 a person. But payouts will vary depending on the cash awards to which policyholders were entitled. In addition, attorney fees and costs will eat up a large chunk. Typically, attorney fees and costs run 20 percent to 40 percent of the settlement amount in large class-action cases.

Posted by Marcia Oddi on June 16, 2012 05:14 PM
Posted to Ind Fed D.Ct. Decisions