Labaton Sucharow LLP and Robbins Geller Rudman & Dowd LLP Announce $117 Million Settlement Reached with UBS Defendants in HealthSouth Stockholder Litigation
SAN DIEGO, June 3 /PRNewswire/ -- TO: ALL PERSONS WHO PURCHASED OR OTHERWISE ACQUIRED THE STOCK OR OPTIONS OF HEALTHSOUTH CORPORATION ("HEALTHSOUTH") BETWEEN SEPTEMBER 20, 2000 AND MARCH 18, 2003 ("STOCKHOLDER CLASS PERIOD AGAINST UBS") AND WERE DAMAGED THEREBY ("UBS STOCKHOLDER CLASS")
YOU ARE HEREBY NOTIFIED, pursuant to an Order of the United States District Court for the Northern District of Alabama, Southern Division, that a hearing will be held on July 22, 2010, at 10:00 a.m., before the Honorable Karon O. Bowdre, at the Hugo L. Black United States Courthouse, 1729 Fifth Avenue North, Birmingham, Alabama, for the purpose of determining: (1) whether the proposed settlement of the claims against UBS AG, UBS Warburg LLC, Howard Capek, Benjamin Lorello and William McGahan (the "UBS Defendants") in In re HealthSouth Corporation Stockholder Litigation, No. CV-03-BE-1501-S, for the principal amount of $117,000,000 in cash should be approved by the court as fair, reasonable, and adequate, and whether the Final Judgment and Order of Dismissal with Prejudice as to UBS Defendants should be entered by the court; (2) to consider the application of plaintiffs' counsel for attorneys' fees and reimbursement of litigation expenses; and (3) to consider the application of the Stockholder Lead Plaintiffs for the reimbursement of their costs and expenses. The court may change the date of the hearing without providing additional notice.
If you purchased or acquired HealthSouth stock or options during the Stockholder Class Period against UBS, your rights may be affected by the Settlement. If you have not received a detailed Notice of Proposed Settlement of Class Action with UBS Defendants ("Notice"), you may obtain a copy by writing to HealthSouth UBS Stock Settlement, c/o Rust Consulting, Inc., P.O. Box 2330, Faribault, MN 55021-9030, or on the internet at www.healthsouthubsstock.com, www.labaton.com or www.rgrdlaw.com. If you are a UBS Stockholder Class Member, and have NOT submitted a Proof of Claim and Release form in connection with the previously announced settlements with HealthSouth (and related defendants) or Ernst & Young LLP, in order to share in the distribution of these settlement proceeds, you must submit a Proof of Claim and Release form postmarked no later than September 29, 2010, establishing that you are entitled to recovery. If you previously submitted a Proof of Claim and Release form, do not do so again. Your earlier claim will be considered for participation in this Settlement.
If you desire to be excluded from the UBS Stockholder Class, you must submit a written Request for Exclusion postmarked no later than July 7, 2010, in the manner and form explained in the Notice referred to above. All Members of the UBS Stockholder Class who do not timely and validly request exclusion will be bound by any judgment entered pursuant to this Settlement with the UBS Defendants.
Any objection to the Settlement must be received by the following on or before July 7, 2010, in the manner and form set forth in the Notice:
ROBBINS GELLER RUDMAN & DOWD LLP
Joy Ann Bull
655 West Broadway, Suite 1900
San Diego, CA 92101
LABATON SUCHAROW LLP
Thomas A. Dubbs
James W. Johnson
New York, NY 10005
Lead Counsel for Stockholder Lead Plaintiffs and UBS Stockholder Class
SULLIVAN & CROMWELL LLP
ROBERT J. GIUFFRA, JR.
125 Broad Street
New York, NY 10004-2498
Counsel for the UBS Defendants
PLEASE DO NOT CONTACT THE COURT OR THE CLERK'S OFFICE REGARDING THIS NOTICE. If you have any questions about the Settlement, you may contact the Stockholder Plaintiffs' Lead Counsel at the addresses listed above.
DATED: May 12, 2010
BY ORDER OF THE COURT
UNITED STATES DISTRICT COURT
NORTHERN DISTRICT OF ALABAMA
SOURCE Labaton Sucharow LLP; Robbins Geller Rudman & Dowd LLP