Navigation Links
IHHI Settles Litigation With OC-PIN
Date:4/2/2009

SANTA ANA, Calif., April 2 /PRNewswire-FirstCall/ -- Integrated Healthcare Holdings, Inc. announced today that it has agreed to settle a number of pending lawsuits with Orange County Physicians Investment Network, LLC, which is owned primarily by local physicians and is one of IHHI's largest shareholders, and certain related parties of OC-PIN.

The litigation grew out of a lawsuit filed by IHHI in May, 2007 against two of its former directors and one current director alleging various breaches of fiduciary duties owed to the company. The dispute escalated over the past two years when the directors cross-complained against IHHI and OC-PIN filed a number of lawsuits seeking to oust the company's former Chief Executive Officer and to assert various shareholder rights. None of the parties admitted any wrongdoing in connection with the settlement.

Maurice J. DeWald, IHHI's Chairman of the Board, said "I could not be more pleased that IHHI is turning the page on this unfortunate chapter in our company's short history. The Board of Directors, management, and our dedicated employees are now looking forward to concentrating all of our efforts on providing quality health care to our patients."

IHHI's recently appointed President and Chief Executive Officer, Kenneth K. Westbrook, was also happy and relieved that the parties were able to settle their differences out of court. "When I started here just over three months ago, I quickly realized that settling this litigation was key to unlocking the vast potential of our four hospitals that are so critical to the delivery of health care in Orange County," Westbrook said. "It is a new day for IHHI. I am ecstatic that all parties have found a way to put this behind them and focus on working together to provide the best possible service to our patients and the community."

About Integrated Healthcare Holdings, Inc.

Integrated Healthcare Holdings, Inc. owns and operates the following four acute care hospitals in Orange County, California: Western Medical Center in Santa Ana; Western Medical Center in Anaheim; Coastal Communities Hospital in Santa Ana; and Chapman Medical Center in Orange. For more information about IHHI, please refer to our website at www.ihhioc.com.

Safe Harbor for Forward-Looking Statements

Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended March 31, 2008, our quarterly reports on Form 10-Q and our periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We undertake no obligation to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events, or otherwise.


'/>"/>
SOURCE Integrated Healthcare Holdings, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Mylan Settles Its First-to-File Opportunity on Levetiracetam with UCB
2. Sunrise Settles Litigation Regarding Its 2007 Annual Meeting
3. Dr. William McGuire Settles with the SEC and the UnitedHealth Group Special Litigation Committee on Stock Options Matter
4. Novo Nordisk Settles With Pfizer On Patent Infringement Suit
5. Park Dental Doctor Group Settles Litigation With Service Provider
6. Dey, L.P. Settles State of Alabama Pricing Litigation
7. Breckenridge Pharmaceutical Settles Paragraph IV Litigation and Receives FDA Approval for its Oxcarbazepine ANDA
8. Walgreens Pays $35 Million, Settles Pharmacist-Whistleblower Qui Tam Drug Switching Allegations
9. US FDA Admits Risks of Mercury Dental Fillings, Settles Lawsuit
10. Bush Administration Settles Nationwide Class Action in Medicare Prescription Drug Case
11. Amerigroup Settles Federal and State Medicaid Fraud Claims for $225 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/23/2017)... , ... February 23, 2017 , ... ... announced today that it will soon begin franchising throughout the U.S. starting this ... to help bring the practice of meditation mainstream. Current Meditation will be the ...
(Date:2/23/2017)... , ... February 23, 2017 , ... ... new partnership with the Rhode Island Consortium for Autism Research and Treatment (RI-CART) ... for children with autism spectrum disorder (ASD) to see films in an environment ...
(Date:2/23/2017)... ... February 23, 2017 , ... CALNOC, the nation’s first and only nursing quality ... conference – Empowerment, Value and Collaboration – in Seattle, WA on October 23, 2017. ... Mason Health System in Seattle since 2000. In addition to his role at Virginia ...
(Date:2/23/2017)... ... February 23, 2017 , ... Curemark, LLC announced today ... efficacy of CM-AT in children aged 3-8 with Autism, is now enrolling at three ... enrolling children across the United States. , “There are currently no approved drugs ...
(Date:2/23/2017)... ... February 23, 2017 , ... Thomas Vas-Don suffered from severe injury ... author was able to successfully recover. In “ Origin & Insertion Charts for Massage ... on the principals of massage, anatomy , trigger points and referral pain ...
Breaking Medicine News(10 mins):
(Date:2/23/2017)... WASHINGTON , Feb. 23, 2017  As ... tips.  In addition, the Company is helping people ... through its customized prescription savings programs in all ... Florida Prescription Assistance Program  and  California Prescription Assistance ... tips from Columbia University for nutritious ...
(Date:2/23/2017)... 2017 The top three players ... Healthcare, Koninklijke Philips N.V., and Schiller. Collectively, these companies ... market in 2015. Strong product portfolio and a monumental ... be aiding these players remain leaders in the fragmented ... in the global market are likely to focus on ...
(Date:2/23/2017)... , Feb 23, 2017 Research and ... Devices Market Analysis & Trends - Industry Forecast to 2025" ... ... grow at a CAGR of around 9.2% over the next decade ... report analyzes the market estimates and forecasts for all the given ...
Breaking Medicine Technology: