secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL HEALTH SERVICES INC (UHS)
CIK:        0000352915
Form:       8-K
Filed at:   2024-09-30T23:59:59+00:00
Accession:  0000950170-24-110165
Event type: litigation
Sentiment:  negative
Materiality: 0.90
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

UHS faces $360M jury verdict in Cumberland sexual misconduct case; punitive expected to be cut
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- Jury awarded $60M compensatory, $180M trebled damages (VCPA), $120M punitive against Cumberland and Dr. Davidow.
- UHS and UHS Delaware were dismissed during trial; Cumberland will challenge verdict post-trial and on appeal.
- Company expects punitive damages to be reduced to max $1.05M under Virginia law; ~40 additional plaintiffs pending.
- Pavilion (IL) case previously disclosed: $60M compensatory + $475M punitive verdict; post-trial motions awaiting decision.
- Remaining 2020-policy insurance coverage ~$221M, subject to $10M/$3M self-insured retentions per occurrence.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/352915/000095017024110165/0000950170-24-110165-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/352915/000095017024110165/uhs-20240927.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-110165

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer