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WellCare Health Plans of Tampa, a firm which has made scads of money administering government health care, and huge profits for George Soros, who was once its largest shareholder, has been raided by the FBI and shuttered. The St. Petersburg Times reports:
The company, which went public in July 2004 at $17 a share, has had a meteoric rise, with its stock more than doubling in the past 12 months. On Wednesday, WellCare's shares dropped $6.77 or 5.5 percent, to $115.50 before trading was halted about 11 a.m. It ended the day down $7.10 at $115.17.............................................
Soros-related firm raided by FBI (updated)
8mm
I wonder how Wellcare patients made out. Maybe they’ll let us know.