The former owners of the now-defunct Physician United Plan have dropped a lawsuit that accused the accountants who worked for the Medicare Advantage plan of hiding its financial woes from state regulators, the Ocala Star-Banner reports.
Drs. Sandeep and RohiniBajaj of Orlando had filed the lawsuit in October 2014 and were seeking more than $500 million in damages from Illinois-based McGladrey LLP. Florida’s Department of Financial Services took over operation of PUP in early June 2014, when it was more than $13 million in debt and unable to pay many creditors.
