Make us your home page

The Buzz

From the staff of the Tampa Bay Times

Pension fund sued Rick Scott for insider trading; dismissed claim then a settlement



Rick Scott wants to be governor of a state that once filed suit accusing him of insider trading.

In 1997, as the FBI unleashed a massive criminal investigation of Scott's hospital chain, Florida's State Board of Administration filed a civil lawsuit accusing Scott and his fellow hospital directors of profiting from a culture of corruption and selling stock 23 days before federal agents raided the company's offices in Texas.

Ultimately, a judge dismissed the insider trading complaint without trial, but an appeals court said there was a chance that Scott should have known "of the arrangements that allegedly violated health care laws and regulations." Story here.

[Last modified: Thursday, October 14, 2010 11:07pm]


Join the discussion: Click to view comments, add yours