Sunrise Senior Living: Serious problems with management and accounting
A hedge fund has called for the sale of Sunrise Senior Living Inc., a large United States owner of assisted living facilities and nursing homes, including many in Illinois and the Chicago area. The company employs about 39,000 people and operates 444 facilities in the US, Canada, Germany, and Britain. The fund cites problems with management and accounting as reasons for the sale, finding new management or merging or restructuring the Virginia-based company. The US Securities and Exchange Commission opened a formal probe into its accounting and insider stock sales. The Illinois Department of Public Health has also investigated numerous cases of nursing home abuse and neglect in Illinois Sunrise facilities. The law firm of Levin & Perconti has represented a number of these victims.
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