The stock value of community hospital information systems vendor Computer Programs and Systems Inc. fell nearly 7 percent in morning trading on June 17 after the company announced its chief financial officer is being investigated for misuse of a corporate credit card.
The Mobile, Ala.-based company has placed Darrell West on administrative leave as it determines whether he used the card to pay $55,000 in personal taxes. West earned $312,000 in 2009. What follows is the explanatory text in a Form 8-K document that CPSI filed with the Securities and Exchange Commission on June 16:
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