As you may have heard, Miraca Holdings announced today its intent to pay $63.5M to settle a four-year old government investigation. As mentioned in Miraca’s press release, Miraca “has consistently denied liability, but has decided to put the matter behind it and enter into a settlement.”
Because the agreement isn’t final, and Miraca needs to complete its discussions with the government, we can’t share more details with you or with our clients regarding the settlement, which I understand is frustrating.
The timing of Miraca Holdings’ announcement likely stems from its desire to disclose the financial impact to its investors, even before the agreement with the government is complete.