Amerigroup (AGP) Shares Plunge After Negative Jury Verdict
Amerigroup (NYSE:AGP - News) shares dropped 15% Tuesday after a jury found against and an Illinois unit in qui tam legislation in the U.S. District Court for the Northern District of Illinois. The company said it plans to appeal the verdict, saying it believes a number of court rulings constitute reversible error and impacted the jury's findings. The verdict, which found that the company's Illinois unit inappropriately worked to avoid or discourage the enrollment of third-trimester pregnant women between 2000 and 2003, calls for Amerigroup to pay damages of $144 million.
posted by Stock Administrator @ 10:45 PM
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