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March 25, 2009
E&Y Settles HealthSouth Accounting Fraud Charges for $109 Million
Ernst & Young, HealthSouth's auditor from 1996-2002, agreed to pay $109 million to settle accounting fraud charges brought by HealthSouth investors. UBS previously settled similar charges for $100 million. Richard Scrushy, HealthSouth's CEO at the time, was acquitted of accounting fraud charges, although subsequently convicted on fraud and bribery charges. CFO.com, E&Y Settles HealthSouth Case for $109M.
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