A class action lawsuit was filed against the rehabilitation services provider alleging accounting malpractice. HealthSouth has agreed to a preliminary $445 million class action settlement. The settlement would pay investors $215 million in common stock and warrants and $230 million in cash from the company's insurance carriers. (Feb-23-06) [ ABC NEWS ]
UPDATE:
Birmingham - A federal class action lawsuit was filed against the health care provider and some of its former directors and officers stemming from its accounting scandal. The lawsuit was filed in the United States District Court for the Northern District of Alabama and the Circuit Court in Jefferson County, Alabama relating to financial reporting and related activity that occurred at the company during periods ended in March 2003. HealthSouth has agreed to pay a $445 million class action settlement. (Sep-27-06) [YAHOO BUSINESS: CLASS ACTION SETTLEMENT]
