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Frist/HCA: another dot to connect? (pension fund sues HCA) [View All]

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swag Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-15-05 10:06 PM
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Frist/HCA: another dot to connect? (pension fund sues HCA)
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http://www.theunknownideal.com/2005/11/hca_another_dot_...

A Pennsylvania union pension fund is suing HCA, explicitly outlining insider malfeasance and manipulation. Pensions & Investments reports:

Attorneys representing the pension fund claim that HCA Chairman and CEO Jack O. Bovender Jr., President and COO Richard M. Bracken and CFO Robert Milton Johnson issued false statements about the companys performance from Jan. 12 through July 12 that caused HCAs shares to trade at artificially inflated levels, the complaint said. The filing also noted the defendants had access to adverse undisclosed information about HCAs business, financial condition and prospects at the time they made materially false and misleading representations.

So nice timing, Senator Frist. Just a coincidence I'm sure. Just a coincidence as much as that old "blind trust" was really blind?

It will be interesting to see what is revealed in the course of the pension suit. Recall the serendipitous timing of the senator's HCA sale:


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