Connect with us

Business

Health Net causes Centene fresh legal trouble

Published

on

Health Net, an American health care insurance provider that Centene Corporation acquired in 2016 for $6.8 billion has brought legal trouble to its parent company yet once again. A fresh lawsuit (https://bit.ly/3bgs8Yw) has been filed in the US District Courts against Health Net, Centene and its CEO Michael Neidorff, and several others alleging racketeering and a conspiracy that drove a whistleblower, Sovereign Health Group, out of business in 2018 just to keep the irregularities in Centene’s Health Net acquisition away from scrutiny.

Health Net, which provides health benefits to approximately 5.9 million individuals in all 50 states and the District of Columbia through group, individual, Medicare, Medicaid, Tricare, and Veterans Affairs programs, was acquired by Centene in 2016 despite criticism by many of its investors. There have been allegations and lawsuits in the past as well that hinted upon wrongdoings in the deal, which were settled by Centene out of court.

The new lawsuit brings the irregularities in the acquisition to the limelight yet once again. This development does call for a deeper scrutiny of the lies that were sold to the investors and shareholders by Centene’s CEO to get necessary approvals for the acquisition from its Board.

The new lawsuit gives rise to speculation that there was definitely something very fishy that happened in the Health Net’s acquisition by Centene Corporation and those involved went to great lengths to keep things under wraps.

It is pertinent to remind here that Michael Neidorff made a windfall and earned a huge amount in cash and stocks as his performance bonus after Centene’s acquisition of HealthNet. Michael Neidorff is said to have sold $20 million worth of his stock soon after and he was the one person who had all information about the deal including everything shady that’s been alleged time and again and which Centene has tried to settle out of court each of the time.

If at all the allegations in the new lawsuit by Sovereign are true, they add a new dimension to the Health Net acquisition story and bring to light the web of lies that was spun by Michael Neidorff and his team to get the deal approved by Centene’s Board of Directors.

Even the Board of Directors will have to answer a lot of questions if the allegations in the new lawsuit are found to be true as the members of the board must have benefited from the deal as well while they all looked away from all that was wrong with the deal and not calling for a greater scrutiny of the same.

However, if the allegations made in the new lawsuit do stick, the worst hit will be the shareholders of Centene Corporation and those who have bought health insurance from Health Net or any other subsidiary of the company. The innocent shareholders stand to lose their investments and Centene’s customers stand to lose their health cover if the company were to go under.

Unless, of course, another out of court settlement is made by Centene. But even then, it will be a case of “not right now,” and the question of “how long before it does happen” that will keep lingering on. It seems like white collar crime and corruption are eating into the soul of American markets and the small investors are being taken for a huge ride once again!

Hannah Barwell is the most renowned for his short stories. She writes stories as well as news related to the technology. She wrote number of books in her five years career. And out of those books she sold around 25 books. She has more experience in online marketing and news writing. Recently she is onboard with Apsters Media as a freelance writer.

Continue Reading
Advertisement

Business

Real Estate Mogul Mike Oddo’s Genius Pivot After Lost Market Share

Published

on

From humble beginnings to scaling his brokerage to a yearly seven figure business at 26, Mike Oddo’s feats were phenomenal. Most entrepreneurs know, the market is a constantly evolving creature. As fate would have it, real estate mogul Mike Oddo, discovered this first hand when to his dismay he realised his precious brokerage was losing market share to a competitor in the early 2010s.

The competitor had recently begun using a software allowing for an unusual advantage in the marketplace. Mike however, was not too worried as he’d anticipated a need for such a software and had begun his own development of one. This only confirmed his sususpion and pushed Mike to go pedal to the metal and make his platform usable for his brokerage. That he did and he would soon reclaim his position as the undisputed champion in the real estate space.

Spotting opportunities, Mike knew that the proprietary tech stack he and his team developed had some serious potential to catch the market by the storm. “As a seasoned real estate veteran, I knew one thing. Booking meetings with prospects was a real pain, and I had always hoped that there would be an easier way to go about conducting real estate sales.” – Mike Oddo.

A sequence of events led Mike to have a chance encounter with the brother of a former employee who was actively involved in selling Yellow Page subscriptions. He proposed to the experienced salesman a potential deal where the salesman would sell Mike’s software in return for a generous commission, a deal would be made and that month Mike Oddo would see $20,000 in subscription sales for his proprietary system.

Mike’s subscription service would go on to be named “Market Maker Leads” – a U.S based software platform for real estate agents that generates real estate leads, nurtures leads, builds your authority and status, delivers those leads as prepositioned appointments™ directly to your calendar. Everything is done for you for a set monthly cost.

Now with proof of concept that agents like and see returns with his platform, Mike made the decision to sell his brokerage for what we would imagine was a handsome amount and Found Market Maker. Since 2012 Market Maker has ushered a new era of convenience and innovation in the real estate market.

Naturally, with the next level convenience offered by Market Maker, Mike’s company has become one of the fastest growing privately held companies in America with a very positive trajectory that we look forward to seeing play out.

Continue Reading

Business

Entrepreneur and marketing guru, George Elia, has been consistently behind the scenes pushing buttons behind some of the largest brands/name on social media.

Published

on

Originally from Lebanon, began his industry rise dating back in 2017, where he was a key member and mentor for some record labels,
George, was influential to the development of several artists on the label, along with many others, helping guide and support careers of artists like, Diego money , Doe Boy, Guap Tarantino, Trap Manny, and many more.
Executive to Marketing Guru and Branding Expert.
George, has been apart and responsible for bringing some of the best new products and entertainment to the eyes of Millions of social media users.
.“We’ve perfected our system, and the results prove it”

Continue Reading

Business

The Importance of Pocket Your Dollars Money Solutions and Expert Financial Advice

Published

on

You may earn a lot of money, but when it comes to investment, not everyone knows the ins and outs of their overall finances. This is where Pocket Your Dollars money solutions come into picture. Read on to understand why financial advice from experts like them is necessary.

There is a thought “Only rich people need financial advice from experts”, but it’s not true. Financial advice from experts is very important if you have a growing business or even a start-up because expert financial advisors have good experience and knowledge in the field. Their experience helps you to build and protect your assets. There are many such services that you can hire. To make your investments fully secured for a longer period it is very beneficial to take financial advice from experts. Here are 5 rewarding reasons to get financial advice from experts.

  1. For Your Family’s Protection

The very first financial planning one has to decide is life insurance. There are many life insurance plans available in the market. Some are very good, while some are average and some are ideal. The main reason why there are many options is because there are various such life situations. Since every individual situation is different, an expert can tell you which life insurance policy perfectly fits your needs. 

Each life situation is different, for example, you are single or married, you are retired, or have a young family. They can help you find appropriate plans. They carefully study your life situation and provide the best feasible options for you and your family.

  • Plan for Saving and Spending

For building assets, you require long-term security. At first, you have to pay for your emergencies and then for holidays and luxuries, as it doesn’t make any sense if it was the other way around. Step one should be to start saving and controlling your spending habits. You should be free from debts. You can check out Pocket Your Dollars and hire them to help you clear your debts with proper planning. Step two is to plan the saving patterns to build a wealthy lifestyle efficiently and effectively. The financial expert understands your whole situation properly and guides you through the right path towards a victorious future.

  • Secure Your House

Purchasing a house is the costliest decision you ever take in your life. Financial experts often help you save many thousands of dollars and wait for the best time when the interest rates are best for you so that you’ll never have to borrow few dollars from here and there when you are purchasing a house.

  • Investment Goals

Many Americans think about early retirement.Whatever your goals are, a financial expert advises you accurately to evaluate what can be possible. After that, the expert creates an effective plan for you to achieve your investment goals.

  • Peace of Mind

If you are searching for a financial solution on the internet and doing all the work by yourself, then it can cost you time. To find the optimal solution, you have to study each aspect. Since the financial expert can do it in no time, you have peace of mind.

It doesn’t matter how much money you have or how old you are, you need a financial expert to ensure a secure financial future.

Continue Reading

Trending