BIRMINGHAM, Ala. (WBRC-TV MyFoxAL.com) -- Art Leach, attorney for former HealthSouth CEO Richard Scrushy, released the following statement Tuesday on the lawsuit that was settled with the United States Securities and Exchange Commission:
“It is the SEC's standard practice that when a settlement is reached to require the parties involved to agree not to comment on the case being settled, and Richard Scrushy intends to honor that agreement. He is pleased to have resolved matters with the SEC. However, Richard Scrushy is still vigorously defending and denies similar claims brought in a class action by HealthSouth shareholders and bondholders and in a stockholder's derivative action. Now that there will not be a costly and distracting trial with the SEC, Richard Scrushy will focus his attention on clearing up other legal issues."
Scrushy has also agreed to pay another $3.5 million in civil penalties.
Rather than writing a check to the government for the total amount, Scrushy will get credit for $71.5 million
he already has paid or forfeited in three other cases linked to HealthSouth. That leaves Scrushy owing a balance of $9.5 million, but the total could be reduced further by other cases.