HCP agrees to $125 million settlement with Ventas
HCP Inc. will pay $125 million to settle a lawsuit filed by fellow real estate investment trust Ventas.
Ventas filed its suit against HCP after learning that HCP interfered in Ventas' acquisition of Sunrise Senior Living REIT in 2007, running up the price. The $125 million payout, which Ventas said was to occur yesterday, is on top of HCP's recent $102.8 million payment to Ventas for compensatory damages.
Ventas and HCP have agreed to dismissals of their cases and further litigation against one another, the companies said.