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Ernst & Young To Pay $109M Over HealthSouth Fraud

Law360 (March 25, 2009, 12:00 AM EDT) -- Accounting giant Ernst & Young LLP will hand over $109 million to settle a securities class action brought by investors of HealthSouth Corp., lawyers for the lead plaintiffs said Wednesday.

The deal comes more than three years after HealthSouth settled with shareholders for $445 million and is one of the largest ever reached with an outside auditor in a securities class action, according to co-lead counsel Thomas Dubbs of Labaton Sucharow LLP.

The suit was brought in the U.S. District Court for the Northern District of...
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