Tampa-based WellCare Health Plans agreed to pay $10 million plus interest to resolve an informal Securities and Exchange Commission probe of its accounting practices, according to a report in the Wall Street Journal.
Under the settlement, WellCare will pay a civil penalty of $10 million and $1 for disgorgement, first $2.5 million of which is due within 30 days. The settlement also enjoins any further violations, according to the report.
WellCare previously settled with Florida prosecutors after accusations that the company had defrauded Florida's Medicaid program and Florida Healthy Kids Corp.
Read the Wall Street Journal's report on the WellCare/SEC settlement.