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Browse: Home / 2008 / August / 28 / SEC Opens Informal Inquiry Into West Penn Allegheny Health System’s Write-Down

SEC Opens Informal Inquiry Into West Penn Allegheny Health System’s Write-Down

By Securities Docket on August 28, 2008, 11:24 am

West Penn Allegheny Health System told investors yesterday that it is cooperating with an SEC probe of the hospital network’s recent $73 million revenue write-down.  Pittsburgh Business Times reports that according to the company, the SEC is conducting an “informal inquiry with regard to West Penn Allegheny Health System and the $73 million balance sheet adjustment.”  Last month the company announced that it had overstated revenue by about $73 million, including $67 million in patient receivables, which led to ratings downgrades by Fitch and Moody’s Investors Service.

Read the Pittsburgh Business Times article

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Posted in SEC | Tagged Informal Inquiry

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