Wellpoint Class Action

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Securities Exchange Act of 1934
Posted on: 04.23.2008.
The Securities Exchange Act of 1934 is a law governing what is and is not legal in the secondary trading of securities (stocks, bonds, and debentures). The Act, 48 Stat. 881 (June 6, 1934), codified at 15 U.S.C. § 78a et seq., was a sweeping piece of legisl...

Class Action Filed by Schiffrin Barroway Topaz & Kessler, LLP
Posted on: 04.23.2008.

RADNOR, Pa., 4/22/2008 -- The following statement was issued by the law firm of

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WellPoint Spent $1.5M to Lobby in 2007

Health insurer WellPoint Inc. spent $1.5 million in 2007 to lobby on funding for Medicare Advantage and the reauthorization of the State Children's Health Insurance Program, or SCHIP, among other issues.

The Indianapolis-based company spent $740,000 in the second half of 2007 to lobby the federal government, according to a disclosure form posted online Feb. 14 by the Senate's public records office.

WellPoint also lobbied on issues related to industrial banks, which may be owned by commercial companies and provide some financial services. The Federal Deposit Insurance Corp. approved WellPoint's application to open an industrial bank in September.

The company lobbied on a range of bills related to health insurance and Medicare. In addition, WellPoint lobbied on legislation promoting the use of information technology in the health care industry and bills that would allow for similar, or "follow-on," versions of biotech drugs.

WellPoint spent $740,000 in the first six months of 2007 to lobby on many of the same issues.

Lobbyists are required to disclose activities that could influence members of the executive and legislative branches, under a federal law enacted in 1995.
Source: Forbes

04.02.2008.