Wednesday, July 06, 2005

Not the football conference

Former HealthSouth CEO Richard Scrushy was acquitted in his criminal trial last week, but he still isn't off the hook with the federal government.

Securities and Exchange Commission officials will go ahead with their almost $800 million civil fraud lawsuit against Scrushy, an SEC spokesman said Tuesday. The agency also wants a judge to block Scrushy from being a director or officer for any public company. Notably, the government can satisfy its burden of proof in civil lawsuits more easily than in criminal cases.

1 Comments:

Blogger kissmyotts said...

I hope the government can at least get this one...

Wouldn't you think, even if Scrushy was totally ignorant of the fraud his subordinates was committing, that in itself should constitute negligence in such a high degree that he should have to pay hundreds of millions for what his shareholders lost?

8:18 PM  

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