Connecting to LinkedIn...

Blank

Skilled Healthcare shares slump on court ruling

Skilled Healthcare shares slump on court ruling
Shares of Skilled Healthcare Group Inc. plummeted after a superior court judge denied the company's request for a new trial in a case accusing it of violating safety codes.Last month, a jury returned a verdict of $677 million against the nursing and assisted living company over a lawsuit that accused it of having inadequate staffing and violating safety codes. Afterward, the company filed a motion for a mistrial, indicating that one of the jurors had not disclosed his past experiences with the company.However, the Humboldt County Superior Court of California denied Skilled Healthcare's motion for mistrial and ordered the company to put in place specified nurse staffing and safety codes.The company has appealed the court injunction. Company shares fell 10%, to $2.49 in trading.

Tags:

Articles similar to

Articles similar to