On January 28th, the Alabama Supreme Court rejected the appeal by Richard Scrushy of the $2.8 billion civil judgment levied against him in 2009. The state’s highest court reaffirmed the ruling in favor of HealthSouth Corp. shareholders. Former HealthSouth Chief Executive Scrushy was found to be “the CEO of the fraud” during the trial in Jefferson County Circuit Court.
Scrushy was held responsible for the massive accounting fraud that engulfed the company from 1996 through 2002 and ordered to pay the judgment to compensate HealthSouth for recovery expenses, and for fraudulent loans, related fees and interest costs that were found to exist only as a cover for the accounting subterfuge. Scrushy argued in his appeal that HealthSouth shareholders lacked the legal standing to bring the suit, that the matters in question had already been decided by other courts, and that the statute of limitations had passed.
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.