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SEC To Distribute $106 Million in HealthSouth Fraud

By Mark H. Astarita, Esq.

The Securities and Exchange Commission today 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. The U.S. District Court of the Northern District of Alabama entered a final judgment against HealthSouth in June 2005, and the court approved the establishment of the Fair Fund in April 2006.This Fair Fund 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...continue to full post

Full post as published by SECLaw.com on July 27, 2010 (boomark / email).