Healthcare Services Group to Pay $6M Civil Penalty, SEC Says

The U.S. Securities and Exchange Commission says Pennsylvania-based Healthcare Services Group, has agreed to pay $6 million to settle charges that the company engaged in accounting and disclosure violations that enabled the company to report inflated quarterly earnings per share that met research analysts’ consensus estimates for multiple quarters.

• HCSG, former CFO John C. Shea, and Derya D. Warner have agreed to cease and desist from future violations of the charged provisions and pay civil penalties of $6 million, $50,000, and $10,000, respectively
• Shea also has agreed to be suspended from appearing and practicing before the SEC as ...