Tenet To Pay $10M To Settle With SEC

Law360, New York (April 2, 2007, 12:00 AM EDT) -- Tenet Healthcare Corp. agreed to pay a civil penalty of $10 million as part of a settlement with the U.S. Securities and Exchange Commission to end a lawsuit over the hospital chain’s accounting practices, Tenet said Monday.

The deal will conclude the agency's investigations into the adequacy of the company's disclosures regarding Medicare outlier payments prior to November 2002 and the “appropriateness of certain of its managed care contractual reserves,” the company said.

The deal also covered several former high-ranking officials, including its former chief operating...
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