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SunStar falters, cites unreported losses of $8M.(Brief Article)
HEATHROW -- Officials at SunStar Healthcare Inc. now concede that the company's financial health is not as rosy as previously reported.
The company plans to restate its previously filed financial statements for the nine months ended Sept. 30 -- and predicts the new bottom line will include losses of about $8 million to $10 million.
That's in stark contrast to the company's previous claim of a $4 million profit for the same time period.
However, the latest financials are very close to what state insurance officials claimed they found when auditing the insurer last year.
The 3-year-old managed care company -- which has more complaints filed …
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