Apria tentatively settles lawsuit for $43 million
WASHINGTON — Apria Healthcare reached a tentative settlement last month relating to a 1998 class-action lawsuit. Under the terms of the settlement, Apria has contributed $1 million to a settlement pool, with the balance of the settlement amount of $42 million coming from Apria's insurance carriers, according to the company's annual report filed with the Securities and Exchange Commission. The complaint against Apria alleges the company committed securities fraud by issuing false and misleading financial statements between March 22, 1995 and January 20, 1998.
Lincare execs rake in the cash
CLEARWATER, Fla. — Lincare Holdings' Chief Executive Officer John Byrns received a lump-sum payment of $2.35 million, and two other top officials received payments of nearly $1.1 million each after the executives agreed to new employment contracts through December 2004. Lincare reported the payments to Byrnes, its chairman, chief executive and president; Paul Gabos, chief financial officer and secretary; and Shawn Schabel, chief operating officer, in a recent filing with the Securities and Exchange Commission.
HME employees charge with defrauding elderly
INVERNESS, Fla. — Authorities have accused an Inverness couple that worked for a home medical equipment company here of swiping more than $450,000 from an elderly woman and her husband. Between early 1999 and November 2000, the McDaniels, who somehow befriended the elderly couple while providing them HME, illegally persuaded them to sell real estate, cash out various investments and insurance policies and give them the money, the St. Petersburg Times reported. The McDaniel's face seven felony charges each.