HealthSouth announced on Oct. 23 that it had reached a $100 million settlement with UBS in a case filed by derivate plaintiffs in state court in Alabama. Represented by Sullivan & Cromwell, UBS faced potentially billions in compensatory and punitive damages if plaintiffs would have proven that the Swiss banking giant was aware of the $2.7 billion accounting fraud that occurred under former HealthSouth CEO Richard Scrushy.
Sullivan Represents UBS on $100 Million HealthSouth Settlement
The American Lawyer
October 27, 2008