UHS subsidiary hit with $500M punitive damages verdict; expects reduction to ~$14M under Nevada law

UNIVERSAL HEALTH SERVICES INC

Jury awarded $4.7M compensatory and $500M punitive damages against UHS of Delaware, Inc.
Company expects punitive damages capped at ~$14M under Nevada statutory law; recent state Supreme Court precedent may further reduce.
UHS of Delaware, Inc. intends to challenge verdict in post-judgment proceedings and appeal.
If unsuccessful in reducing or reversing damages, or if required to post substantial bond, outcome could materially affect financial condition.
Defendants include Pinnacle Management Group NV, LLC (50%-owned UHS subsidiary).

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