After more than five years of litigation and 22 months of negotiations, the federal government has agreed to pay $666 million to more than 660 hospitals that sued for back payments related to Medicare disproportionate share hospital funds. Akin Gump Strauss Hauer & Feld LLP, whose lead counsel was John R. Jacob, represented 70 of the hospitals and served as one of four court-appointed counsel in negotiating with the government. This is the largest Medicare reimbursement settlement in the history of the program.
The settlement involved hospitals nationwide and stemmed from changes to Medicare reimbursement policy made more than 20 years ago. At issue was a controversial reimbursement policy employed by Medicare in the 1990s.
Jeffrey L. Kochian has joined Akin Gump as a partner in the firm's corporate practice in New York.
Mr. Kochian's practice focuses on public and private mergers and acquisitions, including private equity transactions. Mr. Kochian also advises both domestic and foreign public companies on a variety of corporate matters, including joint ventures, corporate finance and securities offerings, and corporate governance issues. He joins the firm from Gibson, Dunn & Crutcher LLP.
Akin Gump has promoted William A. Alexander to partner. Mr. Alexander, a member of the firm's energy and global transactions (EGT) practice, has more than 30 years of experience in energy-related matters - from upstream to downstream, including LNG - in both the domestic and international arenas.
The Century City Bar Association has named C.N. Franklin Reddick III Corporate Lawyer of the Year. Mr. Reddick, a partner at Akin Gump in Los Angeles, received the award at the Association's 40th Annual Installation Dinner and Awards Ceremony recently.
Candidates for Lawyer of the Year honors are nominated by their peers in the legal community and then evaluated over a period of months by the Bar Association's board of directors, which examines each nominee's history of service as a legal professional and his/her contributions to the community. Finalists are then selected by a vote of the board.
Mr. Reddick focuses on mergers and acquisitions and corporate finance. His practice includes the representation of companies ranging in size from large, international corporations to the middle market, private equity funds and institutional lenders.