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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
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Hey Slattery...not so fast...
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<p>[QUOTE="anonymous, post: 5559846"]anybody see the Wall Street Journal today?</p><p><br /></p><p>not so fast, Mr. Slattery. Maybe you cant take all the money and run.</p><p><br /></p><p><br /></p><p>..Now Millennium is in bankruptcy protection, felled by a number of whistleblower lawsuits filed by former employees and doctors who claim the company’s growth was fueled by unnecessary tests and illegal kickbacks to physicians, as a Justice Department investigation concluded was the case.</p><p><br /></p><p><br /></p><p>Before last week’s bankruptcy filing, Mr. Slattery and minority owner TA Associates struck a deal with most of their bondholders to turn over ownership of the company and pay $325 million to settle the federal probe. In return, the owners get to walk away from any potential lawsuits tied to claims related to the federal probe.</p><p><br /></p><p><br /></p><p>That plan is facing pushback in court, where at least one investor, Voya Investment Management Co., claims Millennium’s owners are getting off too lightly. The bankruptcy settlement is just a fraction of the cash the two owners took out of the company in the past three years as dividends, Sharon Levine, lawyer for Voya, said last week in bankruptcy court.[/QUOTE]</p><p><br /></p>
[QUOTE="anonymous, post: 5559846"]anybody see the Wall Street Journal today? not so fast, Mr. Slattery. Maybe you cant take all the money and run. ..Now Millennium is in bankruptcy protection, felled by a number of whistleblower lawsuits filed by former employees and doctors who claim the company’s growth was fueled by unnecessary tests and illegal kickbacks to physicians, as a Justice Department investigation concluded was the case. Before last week’s bankruptcy filing, Mr. Slattery and minority owner TA Associates struck a deal with most of their bondholders to turn over ownership of the company and pay $325 million to settle the federal probe. In return, the owners get to walk away from any potential lawsuits tied to claims related to the federal probe. That plan is facing pushback in court, where at least one investor, Voya Investment Management Co., claims Millennium’s owners are getting off too lightly. The bankruptcy settlement is just a fraction of the cash the two owners took out of the company in the past three years as dividends, Sharon Levine, lawyer for Voya, said last week in bankruptcy court.[/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Laboratory/Diagnostic Sales
>
Millennium Laboratories
>
Hey Slattery...not so fast...
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
Laboratory/Diagnostic Sales
>
Millennium Laboratories
>
Hey Slattery...not so fast...
>