SEC's HealthSouth Complaint Thrashed By Judge

Law360, New York (November 30, 2005, 12:00 AM EST) -- In a stinging blow to the Securities and Exchange Commission in its legal onslaught against former HealthSouth Corp. chief Richard M. Scrushy, a judge has rejected the SEC’s amended complaint in the billion-dollar fraud case for lacking specificity.

Scrushy, who was sued by the SEC in March 2003 for $800 million in damages, was cleared of criminal wrongdoing in September. Alabama-based HealthSouth was also named in the suit, but agreed in June to pay $100 million to be released from the case.

U.S. district judge Inge...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.