Hillenbrand Announces the End of the FCA Litigation
Hillenbrand (NYSE: HI) is pleased to announce that the remaining parties of the FCA action previously described in Hillenbrand's public filings have expeditiously ended the lawsuit without any finding or admission of liability or wrongdoing by Hillenbrand or its Batesville subsidiaries. This comes on the heels of an opinion of the Fifth Circuit Court of Appeals upholding the district court's denial of plaintiffs' request for class certification. Batesville will continue its long standing policy of selling its caskets through licensed funeral homes operated by licensed funeral directors.
Conclusion of the FCA action also terminates certain restrictive covenants and other agreements entered into between Hillenbrand and its former parent, Hill-Rom Holdings, Inc. at the time of the 2008 spin-off from Hill-Rom. These restrictions and other agreements limited Hillenbrand's and Hill-Rom's ability to increase dividends and engage in certain acquisition activities. HI-INC-F
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