Skilled Healthcare Group Inc. lost its bid for a mistrial ruling to vacate $677 million in damages awarded by a California jury that found the company improperly staffed its nursing homes. Shares plunged as much as 24 percent.
Skilled Healthcare Group Inc. jumped as much as 31 percent in New York trading after announcing a $50 million lawsuit settlement over staffing in its California nursing homes, helping it avoid a $677 million damage verdict.
Skilled Healthcare Group Inc. said it will appeal a court order requiring it to comply with California’s minimum staffing requirements at its nursing homes after failing to persuade a judge to declare a mistrial.
Goldman Sachs Group Inc. agreed to pay $550 million and change its business practices to settle U.S. regulatory claims it misled investors in collateralized debt obligations linked to subprime mortgages.