Pediatrix Medical Group, Inc. (NYSE: PDX) announced yesterday that the plaintiffs have voluntarily dismissed, without prejudice, the securities class actions currently pending against the company in the S.D. of Fla.
Pediatrix is a Fort Lauderdale-based provider of maternal-fetal and newborn physician services. The suits were brought following Pediatrix’s June 24 announcement that a U.S. attorney’s office is conducting an investigation into the company’s nationwide Medicaid billing practices. In 2002, Pediatrix settled an earlier securities class action, also based on allegedly fraudulent billing practices, for $12 million.