HealthSouth Corp. founder Richard Scrushy will pay the company $31 million as part of a litigation settlement over his bonuses and legal fees.

Scrushy dropped his own suit seeking $21 million for legal fees after HealthSouth agreed to credit that amount against the $52 million he owed for his inflated bonuses, according to one of the lawyers for the founder of the health care company. HealthSouth forced Scrushy out in 2003 after auditors uncovered a $2.7 billion accounting fraud at the company.

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

Don't have an account? Register for Free Unlimited Access