CBIZ Inc settles UPMC lawsuit for $41 5 million crainscleveland.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crainscleveland.com Daily Mail and Mail on Sunday newspapers.
A settlement appears imminent in a $142 million lawsuit involving UPMC Altoona.
The lawsuit, filed by UPMC in September 2016, accuses a Cleveland-based financial company of mismanaging and under-reporting the pension debt of the former Altoona Regional Health System prior to the Pittsburgh systemâs July 2013 acquisition of the hospital.
The suit names CBIZ Inc. and actuary Jon S. Ketzner, who handled Altoona Regional Health Systemâs two largest pension plans from at least 2008 through 2014, the court papers say.
A trial in the case began June 1 in U.S. District Court, Western District of Pennsylvania, in Johnstown.
On Thursday, Judge Kim R. Gibsonâs office confirmed the jury has been excused, ending the trial.
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Jury selection is scheduled Tuesday for a trial over the University of Pittsburgh Medical Center s federal lawsuit against a Cleveland firm over allegations that an actuarial employee vastly understated the pension liability being assumed by UPMC when it acquired Altoona Hospital in 2013.
UPMC says in the lawsuit against CBIZ Inc. that it wouldn’t have acquired Altoona Regional Health System in 2013 had it known the hospital’s full liability, The (Altoona) Mirror reported. The lawsuit says the liability was $123 million more than what was stated in pension documents.
UPMC is seeking $142 million in damages, plus punitive damages, in the legal action naming CBIZ and its now-retired, Maryland-based actuary.
wfrank@altoonamirror.com
Dr. Subhashis Maitra, 60, has been practicing medicine in the area for the last 29 years, treating patients as a vascular surgery specialist. Maitra officially retired Feb. 28. âI came here to learn how to interview,â Maitra said. âI was impressed by the kindness of the people I met. I decided I wanted to come here and not keep interviewing.â
Courtesy photo
Dr. Subhashis Maitra says it’s time to find out what life is all about.
After more than 35 years in the medical field, including the last 29 years in Altoona, Maitra, 60, a vascular surgery specialist, officially retired Feb. 28.
“I need to give back to my wife (Linda) for the sacrifices she has given and for our parents.