Suit links UBS to HealthSouth fraud

A lawsuit filed this week alleges that investment bankers at the Wall Street firm UBS were complicit in the HealthSouth accounting fraud. A lawsuit filed by a shareholder group accuses three employees at the firm of participating in the scheme. UBS investment bankers Bill McGahan and Ben Lorello and analyst Howard Capek are alleged to have participated in the fraud, allowing the company to mislead investors and prop up its share price. The allegations are supported by testimony by former HealthSouth executives, including former CFO Bill Owens.

- see this article from The Birmingham News

Post a comment