Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, 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.

http://lawprofessors.typepad.com/securities/2009/03/ey-settles-healthsouth-accounting-fraud-charges-for-109-million.html

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