Chargeback Forum - View Single Post - HealthSouth, investors finalize fraud settlement

xiaochu · 03-05-2007

A final, $445 million settlement between HealthSouth Corp. and investors was announced Wednesday to end class-action lawsuits stemming from a huge fraud at the health services company.
Under the agreement, which goes to a judge for approval, the Birmingham-based company will pay $215 million in cash, stocks and warrants. Insurance companies will pay the remaining $230 million.
"This settlement represents another significant milestone in HealthSouth's recovery and is a powerful symbol of the progress we have made as a company," chief executive Jay Grinney said in a statement.

03-05-2007	#1 (permalink)
xiaochu Member Join Date: Mar 2007 Posts: 67 Rep Power: 2	HealthSouth, investors finalize fraud settlement A final, $445 million settlement between HealthSouth Corp. and investors was announced Wednesday to end class-action lawsuits stemming from a huge fraud at the health services company. Under the agreement, which goes to a judge for approval, the Birmingham-based company will pay $215 million in cash, stocks and warrants. Insurance companies will pay the remaining $230 million. "This settlement represents another significant milestone in HealthSouth's recovery and is a powerful symbol of the progress we have made as a company," chief executive Jay Grinney said in a statement.