Healthsouth Investigation

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Healthsouth said it has received notice that it's being investigated by the Securities and Exchange Commission.

The health-care company said the notice came after it had contacted the SEC and volunteered to provide information that might be helpful in evaluating recent events.

The SEC is looking into the timing of an insider stock sale by chairman Richard Scrushy. The commission has questioned Scrushy's sale of about $25 million worth of stock a few weeks before the rehabilitation giant warned of lower earnings.

Healthsouth also last month suspended its earnings guidance for the rest of the year as Scrushy stepped down as chief executive.

As part of the announcement, the company has formed an independent special litigation committee and has confirmed the appointment of a special counsel to review litigation matters.