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HealthSouth Corporation
Court Rules in Favor of HealthSouth in Litigation Involving General Medicine, P.C.
June 7th, 2009
HealthSouth Corporation (NYSE:HLS) reported that the United States District Court for the Eastern District of Michigan granted the Company's motion to set aside a consent judgment in the amount of $376 million between Horizon/CMS Healthcare Corporation, a former subsidiary of HealthSouth, and General Medicine, P.C. The court agreed with HealthSouth that the consent judgment was a product of fraud on the court. In granting HealthSouth's motion, the court stated that General Medicine's failure to disclose material facts to the court "caused a distortion of the judicial process .... the primary purpose of which was to ambush" HealthSouth. Since 2004, General Medicine has been litigating...
Source: Pharma Investments, Ventures & Law Weekly (2009-06-07)
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