The Supreme Court rejects the last challenges to the landmark $2.67 billion nationwide class action settlement involving Blue Cross Blue Shield
Washington, D.C. (June 24, 2024) – On Monday, the U.S. Supreme Court declined to review Home Depot's challenge of a $2.67 billion settlement in antitrust litigation targeting Blue Cross Blue Shield, as well as a separate challenge of the attorney fees awarded for the deal.
The litigation, originally filed in 2012, alleged that over 30 Blue Cross Blue Shield health insurance companies have entered into agreements not to compete with each other for health insurance customers, both by allocating the markets in which they sell health insurance and capping the amount of unbranded health insurance they offer. Hausfeld represented a class of subscribers of health insurance alleging that these rules have artificially inflated premiums and decreased consumer choice in the market for health insurance.
“Our case alleged that, for decades, the Blue Cross Blue Shield system has operated as an illegal association of competitors trying to suppress competition in order to inflate their own profits at the expense of their customers,” said Hausfeld Chair Emeritus and Co-Lead Counsel Michael D. Hausfeld. “These rulings by the Supreme Court signify the last step in court approval for the settlement. Alongside a monetary award of $2.67 billion, among the largest ever in a private antitrust case without government involvement, the settlement incorporates substantial injunctive relief aimed at enhancing competition within the health insurance market.”
“After twelve years, a hundred million documents, and over one hundred depositions, Hausfeld is proud to have helped to obtain this antitrust relief in healthcare for millions of Americans,” said Megan Jones, Hausfeld Partner and member of the BCBS Plaintiffs’ Steering Committee. She was also recently appointed to the Monitoring Committee along with David Boies and William Isaacson. “We take pride in our role in fostering competition in the health insurance market. Competition is vital in healthcare, as it provides services people use and need everyday, from chemotherapy to casts. Monday’s decision represents a significant step toward achieving this objective."
Hausfeld attorneys working on this case are Michael D. Hausfeld, Megan E. Jones, Swathi Bojedla, Michael P. Lehmann, Scott Martin, and Arthur N. Bailey Jr. The case is In re Blue Cross Blue Shield Antitrust Litigation, Case No. 13-cv-20000-RDP (N.D. Ala.).
For further information or to arrange interviews, please contact:
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About Hausfeld
Hausfeld is a leading global law firm with offices in Berlin, Boston, Brussels, Düsseldorf, Hamburg, London, New York, Philadelphia, San Francisco, Stockholm, and Washington, DC. The firm has a broad range of complex litigation expertise, particularly in antitrust/competition, financial services, sports and entertainment, environmental, mass torts, consumer protection, and human rights matters, often with an international dimension. Hausfeld aims to achieve the best possible results for clients through its practical and commercial approach, avoiding litigation where feasible, yet litigating robustly when necessary. Hausfeld’s extensive experience with alternative and innovative fee models offers clients a diverse menu of engagement options and maximum flexibility in terms of managing their cost exposure.
Hausfeld is the only claimants’ firm to be ranked by The Legal 500 and Chambers & Partners as a top tier firm in private enforcement of antitrust/competition law in both the United States and Europe. Additionally, the firm has National Tier 1 Rankings in “Best Law Firms” in Antitrust and Litigation-Antitrust. For more information about the firm, including recent trial victories and landmark settlements, please visit www.hausfeld.com.
