WellCare won’t disclose political $

By Mike Wells
6/11/2010 © Health News Florida

Last month, a former director of WellCare Health Plans publicly called for the company to be more transparent in disclosing its financial issues. But Regina Herzlinger’s request went nowhere.

On Thursday, at the Tampa company’s annual meeting, the Harvard Business School professor was replaced on the board of directors, and a proxy vote calling for WellCare to disclose its political spending went down to defeat.

The official shareholder election results were released Thursday afternoon in an SEC filing, which showed about 23 percent of the votes cast were in favor of the proposal. According to the filing, shareholders owning 87.46 percent of the company’s common stock were or represented by proxy at the meeting.

Read the rest of the story here.


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