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HealthSouth Rises Following Scrushy Settlement

Stock quotes in this article: HLS  

NEW YORK (AP) — Shares of HealthSouth Corp. rose Friday, a day after an Alabama judge ordered the hospital operator's former CEO to pay shareholders $2.88 billion in a fraud lawsuit — almost half of which would go directly to HealthSouth.

The shareholders were successful in their suit against former CEO Richard Scrushy, who they said faked HealthSouth financial reports between 1996 and 2002. HealthSouth will get 40 percent of the proceeds from the suit, but it's not clear how much Scrushy, who is imprisoned due to an unrelated bribery conviction, will be able to pay.

Shares of the Birmingham, Ala., company added 23 cents to $13.25 in afternoon trading. They rose 4.1 percent Thursday. ...

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