Business Services Industry
Former Healthcare Firm Officers Settle Civil Lawsuit.
Knight Ridder/Tribune Business News, June, 2001
By Shannon Buggs, Houston Chronicle Knight Ridder/Tribune Business News
Jun. 19--Four former officers of Paracelsus Healthcare Corp. have settled a civil lawsuit alleging they engaged in fraudulent accounting practices that misled investors about the profitability of the company, the Securities and Exchange Commission said Monday.
According to the SEC, the former officers misled outsiders by maintaining double accounting ledgers and earnings reports and multiple receipt files.
The degree of bad-faith accounting came to light after Paracelsus, a privately held California company, merged with Houston-based Champion Healthcare Corp.
Ron Messenger, Paracelsus' former chief executive officer, agreed to pay a $100,000 penalty. His...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
