Hospital Operator Settles With SEC Over $83M Bond Offering

Law360, Miami (September 13, 2013, 8:47 PM EDT) -- The operator of Miami-Dade County's largest hospital has settled accusations by the U.S. Securities and Exchange Commission that it failed to tell investors about its deteriorating financial condition before an $83 million bond offering, the agency said Friday.

Public Health Trust, which runs Jackson Health Systems, opted to avoid litigation to settle an administrative proceeding with the SEC, which claims PHT misstated revenues due to a faulty new billing system and projected a non-operating loss more than four times lower than what was reported at the...
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