Scrushy To Pay $1.5M To Settle Class Action

Law360, New York (March 10, 2006, 12:00 AM EST) -- Former HealthSouth Corp. Chief Executive Richard M. Scrushy has agreed to pay $1.5 million to settle a class-action lawsuit over losses in the company's employee-retirement fund in the wake of a 2003 accounting scandal, the company said in a filing with the Securities and Exchange Commission filing.

The agreement is subject to approval by the U.S. District Court in Birmingham, the company said in the filing.

The news comes just weeks after the company agreed to pay out at least $445 million in a preliminary deal...
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