Scrushy Civil Case Far Cry From Criminal Trial
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JAY REEVES
BIRMINGHAM, Ala. (AP) Richard Scrushy's federal criminal trial was an entertaining, white-collar whodunit with everything from a courtroom prayer circle to a big cartoon rat. Four years later, a shareholder lawsuit seeking $2.6 billion from the disgraced HealthSouth Corp. chief executive isn't making nearly the same splash. There have been few fireworks and no crowds this time, despite the huge amount of money at stake. Part of the difference is a change in the times and financial environment: Wall Street's meltdown, bailouts and the recession are bigger news than an immense corporate scam that ended six years ago. Scrushy, who was acquitted in the fraud trial, still says he did nothing wrong and is the victim of corrupt underlings. He'll take the stand in his own defense sometime this week. Court documents indicate that even if a judge rules against him, he can't afford to pay $2.6 billion. Shareholders suing on behalf of HealthSouth argue he put the fraud in motion more than a decade ago when the company's earnings fell below Wall Street estimates.- Loading Comments...
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