Sunrise suspends CFO with pay
Sunrise Senior Living Inc., which has been beset by allegations of insider trading, Wednesday said it suspended its chief financial officer with pay.The largest assisted living company in the United States said actions taken by Bradley B. Rush "were not consistent with the document retention directives issued by the company." Sunrise appointed Julie A. Pangelinan, chief accounting officer, to the position of acting chief financial officer.
Late last year the board of Sunrise appointed a special independent committee to review allegations of insider stock sales, questionable accounting practices and other financial wrongdoing. Sunrise is planning to restate earnings from 2003 to 2005.