Physicians, Prudential Note Court Approval of Litigation

Prudential and representatives of hundreds of thousands of physicians, state and local medical societies announced Tuesday that their settlement of the national class action lawsuit pending in the federal court for the Southern District of Florida before U.S. District Judge Federico Moreno has been approved.

Similar to earlier settlements with Aetna, Cigna and HealthNet, approval of this settlement reportedly provides a mechanism by which physicians can obtain compensation in connection with the claims brought in the lawsuits.

Prudential shall reportedly be required to implement important changes to its business practices which will result in significant savings to physicians in overhead costs and time spent contesting claims.

This final judicial approval of the settlement agreement by Judge Moreno has reportedly extinguished liability for lawsuits filed against Prudential over the last decade by physicians and physician groups.