This can't be good news. Not really, anyway.
A final, $445 million settlement between HealthSouth Corp. and investors was announced Wednesday to end class-action lawsuits stemming from a huge fraud at the health services company.
Gee, I wonder who's going to end up footing the bill for this?
Pull out your checkbook.
Under the agreement, which goes to a judge for approval, the Birmingham-based company will pay $215 million in cash, stocks and warrants. Insurance companies will pay the remaining $230 million.
And where do you think the insurance companies will get that $230 million?
Fifteen former HealthSouth executives pleaded guilty in what prosecutors described as a $2.7 billion fraud, and jurors convicted a 16th.
I guess we can take solace in this fact.
And who said character doesn't matter?
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