Court case against ex-Healthcare Locums CFO dropped

by Rachael Singh

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20 Jun 2012

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The New York Supreme Court Appellate Division

FORMER HEALTHCARE LOCUMS CFO Diane Jarvis was set to face US court proceedings this year following the discovery of accounting irregularities. However, the charges have all been dropped without explanation.

Last year the medical recruitment company discovered "serious accounting irregularities" in its financial statements and was forced to restate them. The accounting watchdog has also launched an investigation into the audit of the accounts.

In February proceedings were filed against the former CFO Jarvis, ex-vice chairwoman Kate Bleasdale and ex-chairman Alan Walker, by a US consortium of shareholders.

However, the company has been informed that those proceedings have been dismissed.

The proceedings were filed in the southern district of New York by a consortium of funds, including shareholders Permian Master Fund, Permian Investments and Arundel Hedge Fund.

Now, a statement from Healthcare Locums said: "The company has been informed that the proceedings have been dismissed voluntarily by the plaintiffs. No prior notice was given to the company and no explanation has been given by the plaintiffs as to their reasons for seeking voluntary dismissal."

Peter Sullivan, chairman of Healthcare Locums, said: "The board welcomes this decision. The filed legal proceedings were an unwelcome distraction and the board was always of the opinion that the claims were wholly without merit."

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