WellPoint to settle class action suit for $90 million

(Reuters) – Health insurer WellPoint Inc has agreed to pay $90 million to settle a class-action lawsuit against its Anthem unit over accusations the company did not fairly compensate former members when Anthem was converted from a mutual company into a stock company. If approved by a U.S. federal judge in Indiana, the settlement would resolve all claims asserted by the class, according to court documents filed on Friday. Following news of the settlement WellPoint, in a regulatory filing, lowered its full-year profit forecast by 8 cents per share. …