| Jury unable to reach verdict in Sarbanes-Oxley case |
| Written by Cale D. Hollingsworth | |
| Wednesday, 25 May 2005 | |
After 4 days of deliberation, the jury in the first Sarbanes-Oxley
corporate fraud case failed to reach a verdict and reached out to the
judge for further instructions. In the case, Richard Scrushy, former
chief executive of HealthSouth, is charged with corporate fraud that
accuses him of illegally embezzling over (U.S.) $2.9B of funds in the
southern based healthcare company.  Sen. Sarbanes  Sen. Oxley The jury's deadlock may signal a setback to the U. S. Government's new set of laws, which were designed to protect against corporate fraud in public companies. The ramifications of this new regulation are beginning to trickle down to not only public companies, but even to some private companies that have public companies as clients. This fact will cause some private companies to begin their own compliance initiatives in earnest. Is your company ready to deal with the new laws? SineWave Technologies team of engineers can help your company reach your compliance goals without breaking your IT budget. Contact us to learn more. |