Baton Rouge-based home health provider Amedisys Inc. has reached a preliminary settlement with shareholders who filed a federal lawsuit alleging that some executives engaged in insider trading, approved or made false statements to shareholders and unjustly enriched themselves at the company’s expense.
Amedisys and its executives denied the allegations and continue to do so, according to records in U.S. District Court in Baton Rouge.
Under the preliminary agreement, Amedisys will pay up to $445,000 in attorneys’ fees and expenses. The amount will include $5,000 to each of the plaintiffs. Ten separate lawsuits were filed but they were consolidated.
A hearing on whether Judge Brian Jackson should give final approval to the settlement has been set for 9:30 a.m. Sept. 4 at the court.