Security and Exchange Commission (SEC) action against Bensalem’s Healthcare Services Group has been resolved. The latter agreed to a $6 million settlement while neither admitting to or denying the SEC charges. John George covered the matter for the Philadelphia Business Journal.

The SEC alleged that the company’s earnings were inflated to meet research analysts’ consensus estimates for multiple quarters.

“This settlement reflects our cooperation in working with the SEC to conclude this matter and enables us to continue with the execution of our operational and growth strategies,” said Ted Wahl, CEO of Healthcare Services Group.

“The company’s board of directors and management team remain committed to maintaining strong internal controls and adhering to best practices for compliance and corporate governance.

“We are pleased to put this matter behind us.”

Healthcare Services Group provides housekeeping, laundry, dining and nutritional services to more than 3,000 nursing homes, rehabilitation centers, hospitals, and retirement complexes nationwide. The company, which has more than 44,000 employees, posted revenue of $1.8 billion and net income of $98.7 million in 2020.

More on this Bensalem firm and its SEC difficulties is at the Philadelphia Business Journal.