View all newsletters
Receive our newsletter – data, insights and analysis delivered to you
May 4, 2010

Ernst & Young and UBS settle HealthSouth case

Ernst & Young US and Swiss bank UBS and have agreed to settle an investor lawsuit over the US HealthSouth fraud case for $250.5m.

UBS will contribute $217m and Ernest & Young $33.5m, Reuters reported.

UBS and Ernst & Young both continue to deny wrongdoing in the estimated $2.7bn accounting fraud, which was uncovered in 2003.

Ernest & Young said the settlement means long litigations can be avoided.

HealthSouth Corporation has already paid $445m in settlements for lawsuits that were filed against the company and some of its former directors.

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A roundup of the latest news and analysis, sent every Wednesday.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to International Accounting Bulletin