Defendant Name: Healthsouth Corp.

Defendant Type: Public Company
SIC Code: 8093
CUSIP: 29261A10

Document Reference: complaint_03-cv-00615

Document Details

Legal Case Name SEC v. Healthsouth Corporation and Richard M. Scrushy
Document Name Complaint for Injunctive and Other Relief
Document Date 19-Mar-2003
Document Format Civil Proceeding
Case Number 03-cv-00615
Federal District Court Alabama, Northern District of Alabama
Allegation Type Issuer Reporting and Disclosure
Document Summary On March 19, 2003, the Commission filed a claim against HealthSouth Corporation (HRC) and HRC's Founder, CEO, and Chairman, Richard M. Scrushy. The Commission alleged that "since 1999, HRC has overstated its earnings by at least $1.4 billion." The Commission claimed that Richard M. Scrushy, in an effort to "meet or exceed earnings expectations established by Wall Street analysts," continued to overstate HRC's assets and file fraudulent reports.

Related Documents:

court_doc151_03-cv-00615 22-Jun-2005 Court Docket Document
Final Judgment as to Defendant Healthsouth Corporation
The Court entered final judgment, finding HealthSouth Corporation in violation of all eight counts.
2010-132 26-Jul-2010 Press Release--Civil Action
SEC Announces $106 Million Fair Fund Distribution to Harmed Investors in HealthSouth Financial Fraud
On July 26, 2010, the SEC announced a Fair Fund distribution of more than $106 million to investors harmed in a financial fraud at HealthSouth Corporation. The Fair Fund for HealthSouth Corporation fraud victims resulted from an SEC enforcement action in March 2003 after which HealthSouth paid $100 million to settle SEC charges that it falsely inflated earnings to meet Wall Street expectations. This distribution to 67,695 individual investors, pension plans and other victims represents the entirety of the money HealthSouth paid to settle the SEC's fraud charges, plus interest.

Other Defendants in Action:

Richard M. Scrushy