After years of legal wrangling, HCP Inc. has agreed to pay the $102 million the courts have said it owes Ventas Inc.
Ventas was able to prove that HCP interfered with the acquisition of Sunrise Senior Living REIT in 2007, resulting in a higher price. The U.S. Court of Appeals for the Sixth Circuit upheld the $101.6 million judgment in May and rejected a rehearing appeal. Another trial in 2012 will see if Ventas can collect punitive damages.
Both companies saw their stock plunge at the beginning of August but rise steadily, closing at $50.97 for Ventas and $34.94 for HCP on Sept. 9.
From the October 01, 2011 Issue of McKnight's Long-Term Care News
