Health care company HealthSouth Corp. said that it will pay $445 million to settle investor lawsuits brought in the wake of a $2.7 billion earnings overstatement that nearly destroyed the company.
HealthSouth and its liability insurers reached the agreement after months of court-ordered mediation. The proposed deal, which is subject to court approval, doesn't resolve claims against HealthSouth's former auditor Ernst & Young, former banker UBS Securities, or company founder Richard Scrushy.
Register or login for access to this item and much more
All Accounting Today content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access