G&E Instrumental in $2.67 Billion Blue Cross Blue Shield Settlement, One of the Largest Monetary Recoveries in an Antitrust Class Action
Resolving a years-long multidistrict lawsuit, G&E, serving as co-chair of the litigation committee, worked with co-counsel to reach a $2.67 billion class settlement with Blue Cross Blue Shield insurers. Plaintiffs, a class of more than 40 groups of insurance subscribers, accuse BCBS entities of engaging in an illegal conspiracy to thwart competition for health insurance customers, thereby establishing and maintaining monopoly power throughout the regions in which they operate. The settlement is one of the largest monetary recoveries reached in an antitrust class action, and also incorporates sweeping anti-competitive practice reforms.
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