Business
HealthSouth returns to NYSE
NEWS IN BRIEF — Posted Nov. 13, 2006
HealthSouth stock has been re-listed on the New York Stock Exchange for the first time since a massive accounting scandal was revealed at the rehabilitation hospital chain more than three years ago.
HealthSouth stock began trading under the ticker symbol "HLS" on Oct. 26, with an opening price of $24.45 per share. After an initial bump to $26, the stock traded for below $24 as of Oct. 30.
Federal regulators halted trading of HealthSouth stock in March 2003, soon after FBI agents raided the company's headquarters in Birmingham, Ala., in a fraud investigation.
Ultimately, more than a dozen HealthSouth executives pleaded guilty or were convicted of criminal charges in a scheme to artificially inflate the company's earnings by nearly $2.7 billion over several years.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2006/11/13/bibf1113.htm.