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Federal Judge Upholds Sarbanes-Oxley Law Nov. 30, 2004 (Associated Press) A federal judge has rejected claims by fired HealthSouth chief executive Richard Scrushy and upheld a new corporate fraud law aimed at top executives after a series of major accounting scandals. In the first court test of the Sarbanes-Oxley Act, U.S. District Judge Karon O. Bowdre disagreed with Scrushy's argument that the act is unconstitutionally vague and should not be part of the indictment accusing him of a massive fraud at HealthSouth. Ruling in what she said was the first decision on the constitutionality of the 2002 law, Bowdre said jurors -- not a judge -- should decide key questions raised in Scrushy's case. Scrushy spokesman Charlie Russell said the defense wasn't surprised by Bowdre's decision, which he said will not be appealed. Prosecutors did not immediately respond to a message seeking comment. -- Jay Reeves |
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