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Title:Home Page - Cedars of Chapel Hill Lawsuit

Description:Home Page - Cedars of Chapel Hill Lawsuit Home Additional Information Contact The Cedars of Chapel Hill Lawsuit Memo from Bob Woodruff, CEO of The Cedars of Chapel Hill LAWSUIT OVER – MAY 1, 2016 The


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Home Page - Cedars of Chapel Hill Lawsuit Home Additional Information Contact The Cedars of Chapel Hill Lawsuit Memo from Bob Woodruff, CEO of The Cedars of Chapel Hill LAWSUIT OVER – MAY 1, 2016 The lawsuit brought against The Cedars is completely over. The North Carolina Court of Appeals ruled unanimously that the financial structure of The Cedars is legal and The North Carolina Supreme Court refused to review that decision. The financial structure was approved by the North Carolina Department of Insurance before The Cedars was built so we are pleased that this approval was affirmed by the courts. There was one minor issue that the Court of Appeals had a question about and resolving it could have taken another two or three years. In order to completely resolve this question and get the lawsuit over so we can move forward as quickly as possible with expansion of DuBose Health Center, The Cedars of Chapel Hill, LLC has paid the plaintiffs and the plaintiffs' attorneys $1,450,000, with the decision about how the funds would be disbursed left up to the attorneys and the class representatives. Of this amount, $750,000 was paid to the class action attorneys and the remainder to those who previously owned homes but had already sold them. None of the $1,450,000 was distributed to current owners. For the benefit of current and future owners, The Cedars of Chapel Hill, LLC agreed to pay $100,000 per year (increasing each year) into a fund that will be administered by the Board of Directors of The Cedars of Chapel Hill Condominium Association. All of the costs of defending the financial structure, which were considerable, were paid by The Cedars of Chapel Hill, LLC. Our Members covered none of the costs. The application for a Certificate of Need has been filed with the North Carolina Department of Health and Human Services for permission to expand DuBose and add significantly more private rooms, with the cost of the expansion to be paid by The Cedars of Chapel Hill, LLC. We will respond to questions and requests for information as quickly as possible so that we will not slow down the approval process. Once we have approval we will begin the expansion immediately. We believe the financial structure of The Cedars is the best in the industry because residents own their own homes and there is no debt on the not-for-profit operating companies. We are committed to maintaining the quality of life that has become a trademark of The Cedars. Our goal was and continues to be to have a community that will provide our Members with excellent service, outstanding facilities and first-class healthcare. Based on conversations with our Members over the years, we believe we have achieved that goal while becoming a benchmark for continuing care retirement communities across the country. ? 2016 - The Cedars of Chapel Hill | The Cedars of Chapel Hill

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Whois Server Version 2.0 Domain names in the .com and .net domains can now be registered with many different competing registrars. Go to http://www.internic.net for detailed information. Domain Name: CEDARSOFCHAPELHILLLAWSUIT.COM Registrar: DOMAIN.COM, LLC Sponsoring Registrar IANA ID: 886 Whois Server: whois.domain.com Referral URL: http://www.domain.com Name Server: NS1.DOTSTER.COM Name Server: NS2.DOTSTER.COM Status: ok https://icann.org/epp#ok Updated Date: 13-jan-2016 Creation Date: 13-jan-2016 Expiration Date: 13-jan-2017 >>> Last update of whois database: Wed, 18 May 2016 16:19:22 GMT <<< For more information on Whois status codes, please visit https://icann.org/epp NOTICE: The expiration date displayed in this record is the date the registrar's sponsorship of the domain name registration in the registry is currently set to expire. This date does not necessarily reflect the expiration date of the domain name registrant's agreement with the sponsoring registrar. Users may consult the sponsoring registrar's Whois database to view the registrar's reported date of expiration for this registration. TERMS OF USE: You are not authorized to access or query our Whois database through the use of electronic processes that are high-volume and automated except as reasonably necessary to register domain names or modify existing registrations; the Data in VeriSign Global Registry Services' ("VeriSign") Whois database is provided by VeriSign for information purposes only, and to assist persons in obtaining information about or related to a domain name registration record. VeriSign does not guarantee its accuracy. By submitting a Whois query, you agree to abide by the following terms of use: You agree that you may use this Data only for lawful purposes and that under no circumstances will you use this Data to: (1) allow, enable, or otherwise support the transmission of mass unsolicited, commercial advertising or solicitations via e-mail, telephone, or facsimile; or (2) enable high volume, automated, electronic processes that apply to VeriSign (or its computer systems). The compilation, repackaging, dissemination or other use of this Data is expressly prohibited without the prior written consent of VeriSign. You agree not to use electronic processes that are automated and high-volume to access or query the Whois database except as reasonably necessary to register domain names or modify existing registrations. VeriSign reserves the right to restrict your access to the Whois database in its sole discretion to ensure operational stability. VeriSign may restrict or terminate your access to the Whois database for failure to abide by these terms of use. VeriSign reserves the right to modify these terms at any time. The Registry database contains ONLY .COM, .NET, .EDU domains and Registrars