SEC investigating HCA
Posted on October 7, 2009 at 8:55 amThe Securities and Exchange Commission is investigating whether Nashville-based hospital operator HCA Inc. fabricated “tens of thousands of payments for phantom nursing shifts,” the Washington Post reported today. The probe focuses, at least in part, on HCA’s London operations, according to the Post’s report, which cites documents and people close to the investigation, as well as a statement from the company confirming it has been contacted by the SEC.
UPDATE: HCA released the following statement:
“We are aware that a former employee in our London payroll department is seeking money in a civil employment lawsuit, and she has made assertions about the accuracy of our nurse scheduling systems and the related compensation paid in our six UK hospitals. This former employee has made similar allegations to local authorities in London who have declined to investigate. Her allegations have no merit, and we are vigorously defending the employment litigation. We also have received a voluntary request for related information from the United States Securities and Exchange Commission. We have provided requested information and look forward to working with them to conclude this inquiry.”
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CCA’s controversial Kentucky deal extended
Posted on September 15, 2009 at 7:20 amThe Kentucky Department of Corrections has extended by one year Corrections Corp. of America’s contract to house more than 400 inmates at a facility where seven cases of sexual misconduct were not reported to the appropriate officials.
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Kentucky official says state should take over CCA prison
Posted on September 11, 2009 at 1:33 pmThe Kentucky Department of Corrections should take the troubled Otter Creek Correctional Center off the hands of Corrections Corp. of America, the state’s House speaker has written in a letter to a fellow lawmaker. Not surprisingly, CCA officials aren’t terribly keen on the idea.
SEE ALSO: Other recent items about Otter Creek
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Kentucky’s conditions for CCA
Posted on September 8, 2009 at 9:37 am
Corrections Corp. of America must agree to a raft of operational and reporting changes if it wants to have its contract to manage hundreds of Kentucky prisoners renewed. The company’s Otter Creek facility has produced a boat load of negative pub of late.
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CCA wants women
Posted on August 21, 2009 at 1:00 pmThe Nashville-based private prison operator is offering signing bonuses to new women guards at the Eastern Kentucky prison that is under government investigation. It’s interesting to note that investors — usually not ones to take regulatory risk lightly — haven’t given a hoot about the recent hoopla: CCA shares (Ticker: CXW) have risen by more than a third since Memorial Day.
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CCA’s Kentucky water gets hotter
Posted on August 17, 2009 at 8:04 amSomething tells you this won’t end well for the Nashville-based operator of prisons: The monitor checking up on CCA’s work at a Kentucky women’s prison that has been the source of several sexual assault allegations is finding other issues.
The state can fine the company up to $5,000 a day for violating terms of the contract, which include maintaining certain staffing levels and filling vacant positions within 60 days.
In fact — despite the sexual assault investigation — the state has agreed to extend for 60 days its contract with CCA to house up to 476 inmates at the facility while it negotiates a new two-year agreement.
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A monitor for CCA
Posted on August 11, 2009 at 1:54 pmThe Nashville-based prison operator is paying for an outside monitor hired by the Kentucky Department of Corrections to check on conditions in a prison where female inmates have reported sexual assaults.
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TJ Maxx parent to pay state $340K
Posted on June 23, 2009 at 1:39 pmThe retailer’s parent, TJX Cos., is settling the investigation into its data breach last year that may have compromised up to 46 million credit cards. The company will $9.75 million to 40 states and implement a rigorours IT security plan.
State pulls Murfreesboro firm’s license testing papers
Posted on June 21, 2009 at 9:53 pmThe Department of Safety has yanked the commercial driver’s license testing credentials of Volunteer Training Center in Murfreesboro. Volunteer, which also has an office in Chattanooga, is being investigated by the Tennessee Highway Patrol Criminal Investigation Division and the Federal Bureau of Investigation.
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State pockets $2M in auction-rate securities settlement
Posted on June 18, 2009 at 4:10 pmCitigroup will pay the Tennessee Department of Commerce & Insurance $1.6 million and Wachovia will pitch in about $450,000 to end an investigation into their sales of auction-rate securities. The payments are part of a national settlement that will have both banks pay penalties of about $50 million.
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AG wins TennCare billing settlement
Posted on June 11, 2009 at 11:14 am
Kindred Healthcare and its PharMerica affiliate will pay almost $500,000 in penalties to settle allegations of overbilling TennCare. According to the Attorney General’s office, the investigation was launched after a whistleblower’s internal complaint was not adequately investigated.
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Feds ‘lose’ trailer at local office
Posted on June 4, 2009 at 12:16 pmA GAO report says the Indian Health Service continues to lose equipment at an alarming rate. Among the items now unaccounted for is a $7,300 trailer that was stolen from Nashville Region Office on Stewarts Ferry Pike, where the security gates were broken and remained open.
The loss is part of a bigger property loss and ongoing problem that Government Accountability Office identified in a June 2 report. The office said that the Indian Health Service lost about 1,400 items worth $3.5 million between October 2007 and January 2009. The report said that the agency continues to lose property at an alarming rate, reporting lost or stolen property, including new medical equipment. The government agency’s failure to implement accountability office’s recommendations and hold staff accountable for the losses contribute significantly to the problem, the report said.
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Government report criticizes CCA practices
Posted on May 20, 2009 at 3:36 pmA Montana Department of Corrections investigation into the Nashville-based company’s management of a prison there alleges a pattern of mistreatment of Native Americans that included three months of strip searches before and after sweat-lodge rituals.
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Michelin settles with AGs over savings claims
Posted on May 14, 2009 at 11:58 am
The tire maker will pay $375,000 to settle claims of false advertising related to the financial savings its tires could produce. In all, 17 states were part of the investigation, which was led by Tennessee Attorney General Bob Cooper.
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Ingram Micro pays up to settle SEC investigation
Posted on May 12, 2009 at 10:35 pmThe California-based company (Ticker: IM) that is 4 percent-owned by Nashville’s Ingram family will forfeit $15 million to end an inquiry into its role in the fraud perpetrated by software marketer McAfee.
The distributor sought to benefit from McAfee’s willingness to make payments for increasing amounts of unneeded products, the SEC said. Ingram Micro employees ignored internal goals of carrying no more than eight weeks of inventory, accruing a 22-month supply. It later reduced the stockpile by engaging in circular transactions with McAfee that lacked “economic substance,” the regulator said.
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