HealthSouth Corp. said Thursday it had reached a $445 million preliminary agreement to settle federal lawsuits resulting from a massive financial fraud that nearly drove the rehabilitation chain to ruin. The company will pay $215 million in common stock and warrants under the global settlement, and insurance companies will pay another $230 million in cash. HealthSouth did not admit any wrongdoing as part of the agreement, which still must be approved by a judge.
February 24, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
HealthSouth Corp. said Thursday it had reached a $445 million preliminary agreement to settle federal lawsuits resulting from a massive financial fraud that nearly drove the rehabilitation chain to ruin.
The Birmingham-based company will pay $215 million in common stock and warrants under the global settlement, and insurance companies will pay another $230 million in cash.
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