Class counsel at Boies Schiller Flexner, Burns Charest, and Hausfeld will share up to $667.5 million of the $2.67 billion settlement of the proposed Blue Cross Blue Shield antitrust litigation, according to documents filed late Friday in the multidistrict litigation in U.S. District Court in Birmingham, Alabama.
The filings confirm and flesh out the “tentative” deal reported in September in the MDL created in 2013. The consolidated lawsuits allege that the Blue Cross Blue Shield Association and its 36 licensed members, which cover nearly one-third of the U.S. population, violated federal antitrust laws by dividing up health insurance markets to avoid competing with each other.
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