CHS (NYSE:CHS) Legal Headache

CHS (NYSE:CHS) has been sued by Tenet Healthcare.

CHS (NYSE:CHS) Legal Headache

According to reports, Tenet Healthcare has filed a lawsuit against Franklin-based Community Health Systems, CHS (NYSE:CHS).

In a suit filed in federal court, Dallas-based Tenant has accused CHS (NYSE:CHS), which has tried unsuccessfully to acquire Tenet on several occasions, of overbilling Medicare by admitting patients into hospitals that competitors would typically place into outpatient observation.

The charges come months after CHS (NYSE:CHS) launched a $3 billion hostile takeover bid for Tenet Healthcare which is the parent company of several Central Coast medical facilities, including Sierra Vista Regional Hospital in San Luis Obispo.

CHS (NYSE:CHS) company shares are currently standing at 14.99.

Price History
Last Price: 14.99
52 Week Low / High: 8.22 / 16.57
50 Day Moving Average: 13.34
6 Month Price Change %: 37.0%
12 Month Price Change %: 2.9%