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Sarbanes-Oxley News & Developments
HealthSouth Sued by The Teachers Retirement System of Louisiana.Louisiana fund says firm failed to disclose transactions between its directors and some companies.
> > A lawsuit was filed against HealthSouth Corp., several former executives and its directors, alleging lapses in corporate governance at the company.
A representative of the Court of Chancery of the State of Delaware confirmed the suit was filed against the operator of about 1,700 physical therapy, outpatient surgery, and diagnostic imaging centers.
The fund is accusing the company and directors of failing to disclose a number of related party transactions between various companies and HealthSouth directors. The fund is also seeking a new election of HealthSouth directors.
Source: CNN Money
Published:2003-09-10
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