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HealthSouth Settles with US Government

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HealthSouth has reached a non-prosecution agreement with the US Department of Justice. The terms of the settlement involve payment of $3 million to the U.S. Postal Inspection Services Consumer Fraud Fund and three years of probation, involving complete cooperation with government requests for information and access. 
 
HealthSouth is attempting to recover from an accounting fraud worth over $2 billion. Its shares were delisted from the NYSE but company officials hope they will be allowed back later this year.

HealthSouth to Pay US $3 Mln to Avoid Indictment

Bloomberg - 5/18/2006 3:22 PM

May 18 (Bloomberg) -- HealthSouth Corp. agreed to pay $3 million and serve three years on probation in a deal with the government that spares the company an indictment for the $2.7 billion accounting fraud that almost triggered its collapse.
 
U.S. Attorney Alice Martin, who prosecuted 17 HealthSouth executives for their alleged roles in the fraud, including company founder Richard Scrushy, announced terms of the non- prosecution agreement today. Scrushy was acquitted of fraud charges last year, after a trial in Birmingham, Alabama.
 
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