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Welcome to the UBS Stock Settlement website.
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IMPORTANT UPDATE: January 20, 2012
The initial distribution of the Net Settlement Fund took place on January 20, 2012. This distribution is based on 80% of the available balance in the Net Settlement Fund. The initial distribution was approximately $74 million. There will also be a subsequent distribution from the remaining Net Settlement Fund to Authorized Claimants.
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IMPORTANT DATES & DEADLINES
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File a Proof of Claim:
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Postmarked no later than September 29, 2010
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Request an Exclusion:
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Postmarked no later than July 7, 2010
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File an Objection:
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Received on or before July 7, 2010
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Settlement Hearing:
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July 22, 2010 at 10:00 a.m. in Northern
District of Alabama, Southern Division,
Hugo L. Black United States Courthouse
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Initial Distribution of the Net Settlement fund:
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January 20, 2012
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The following is a summary of information which is presented in more detail in the
Notice of Proposed Settlement of Class Action with UBS Defendants, which you can
access by clicking on the box with that name to the left. Since this is just a summary,
you should see the full Notice for additional details.
Please read this information carefully. If you are a UBS Stockholder Class Member
(as defined below), your rights will be affected by these proceedings and you may
be entitled to receive benefits under a proposed $117,000,000 class action settlement.
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ALL PERSONS AND ENTITIES WHO PURCHASED OR OTHERWISE ACQUIRED THE STOCK OR OPTIONS
OF HEALTHSOUTH CORPORATION BETWEEN SEPTEMBER 20, 2000 AND MARCH 18, 2003, INCLUSIVE,
AND WERE DAMAGED THEREBY.
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Securities Brokers and other Nominees: Please see instructions on page 11 of the
Notice.
Settlement Hearing
The court will hold a Settlement Hearing at 10:00 a.m. on July 22, 2010,
at the Northern District of Alabama, Southern Division, Hugo L. Black United States
Courthouse, 1729 Fifth Avenue North, Birmingham, Alabama 34203-2000 to determine:
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(a)
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Whether the Settlement consisting of $117,000,000 in cash should be approved as
fair, reasonable, and adequate and the proposed Judgment entered; and
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(b)
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Whether the applications for attorneys’ fees and/or expenses should be approved.
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The issuance of the Notice is not an expression of the court’s opinion on the merits
of any claim in the Stockholder Action, and the court still has to decide whether
to approve the Settlement. If the court approves the Settlement, payment will be
made after all appeals, if any, are resolved and after the completion of all claims
processing. Please be patient.
What is this case about?
The Complaint alleges, among other things, that during the relevant period, the
UBS Defendants made false and misleading statements and omissions, and engaged in
deceptive conduct regarding HealthSouth.
The UBS Defendants expressly have denied and continue to deny all charges of wrongdoing
or liability against them arising out of any of the conduct, statements, acts or
omissions alleged, or that could have been alleged, in the Stockholder Action.
Terms of the Settlement
UBS has paid, or caused to be paid, cash in the amount of $117,000,000 into an escrow
account, which will earn interest for the benefit of the UBS Stockholder Class,
pursuant to the terms of the Stipulation. In exchange for such payment, the Released
Claims will be released, discharged and dismissed with prejudice as against each
of the Released Persons. The Settlement does not release any claims of the UBS Stockholder
Class against the Non-Settling Defendant or any claims of the Bondholder Class.
The Settlement also does not change or modify any of the terms of the HealthSouth
Settlement or the E&Y Settlement.
A portion of the Settlement Fund will be used for certain administrative expenses,
including the costs of printing and mailing the Notice, the cost of publishing newspaper
notices, payment of any taxes assessed against the Settlement Fund and costs associated
with the processing of claims submitted. In addition, as explained herein, a portion
of the Settlement Fund may be awarded by the court to reimburse Stockholder Lead
Plaintiffs for their costs and expenses and to award counsel for the Stockholder
Lead Plaintiffs attorneys’ fees and expenses. The balance of the Settlement (the
“Net Settlement Fund”) will be distributed to Authorized Claimants according to
the Plan of Allocation previously approved by the court in connection with the E&Y
Settlement which can be accessed by clicking on the box with that name to the left
on the top of this page.
The Rights of the Class Members
If you are a UBS Stockholder Class Member, you have the following options:
- FILE A PROOF OF CLAIM – If you have NOT previously submitted
a Proof of Claim in connection with the HealthSouth Settlement or the E&Y Settlement,
you may file a Proof of Claim. If you submit (or have already submitted) a Proof
of Claim, you will share in the proceeds of the proposed settlement if your claim
is valid and if the proposed settlement is finally approved by the court. In addition,
you will be bound by the Judgment and release as described in the Notice. All claim
submissions must be postmarked no later than September 29, 2010.
- EXCLUDE YOURSELF FROM THE CLASS – If you DO NOT wish to be
included in the UBS Stockholder Class and you DO NOT wish to participate
in the proposed Settlement described in the Notice, you must request to be excluded.
You must request exclusion from this Settlement even if you previously excluded
yourself from the HealthSouth Settlement and/or the E&Y Settlement. To do so, you
must submit a written request for exclusion that must be postmarked no later than
July 7, 2010.
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your name;
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address;
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telephone number;
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the number and type of HealthSouth stock or options purchased or acquired and the
number sold during the Stockholder Class Period against UBS and the dates and prices
of such purchase(s), acquisition(s), and/or sale(s); and
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that you wish to be excluded from the UBS Stockholder Class.
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- The exclusion request must be addressed as follows:
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HealthSouth UBS Stock Settlement
c/o Rust Consulting, Inc.
P.O. Box 2330
Faribault, MN 55021-9030
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- NO REQUEST FOR EXCLUSION WILL BE CONSIDERED VALID UNLESS ALL OF THE INFORMATION
DESCRIBED ABOVE IS INCLUDED IN ANY SUCH REQUEST.
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If you timely and validly request exclusion from the UBS Stockholder Class:
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you will be excluded from that class;
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you will not share in the proceeds of the Settlement;
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you will not be bound by any judgment entered pursuant to the Settlement; and
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you will not be precluded, by reason of your decision to request exclusion from
the UBS Stockholder Class, from otherwise prosecuting an individual claim, if timely,
against the UBS Defendants based on the matters complained of in the Stockholder
Action.
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- If you do not request in writing to be excluded from the UBS Stockholder Class as
set forth above, you will be bound by any and all determinations or judgments in
the Stockholder Action in connection with the Settlement approved by the court,
whether favorable or unfavorable, you will not be able to bring, or continue to
pursue, an individual claim against the UBS Defendants based on the matters complained
of in the Stockholder Action, and you shall be deemed to have, and by operation
of the Judgment shall have fully released all of the Released Claims against the
Released Persons, whether or not you submit a valid Proof of Claim.
- OBJECT – If you are a member of the UBS Stockholder Class (and you
have not excluded yourself), and you disagree with some aspect of the proposed Settlement,
you must send a written statement of objection to Stockholder Plaintiffs’ Lead Counsel,
counsel for UBS, and the court to be received on or before July 7, 2010.
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The statement of objection must include:
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your name,
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address,
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telephone number,
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your signature,
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a statement of the reasons for objection,
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the objecting Persons’ membership in the UBS Stockholder Class, including the amount
of HealthSouth stock or options purchased, acquired and sold during the Stockholder
Class Period against UBS and held at the end of the class period, and
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if objecting party intends on presenting evidence at the Settlement Hearing, the
identity of any witnesses they may call to testify and any exhibits they intend
to introduce into evidence at the Settlement Hearing.
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LEAD COUNSEL FOR STOCKHOLDER
LEAD PLAINTIFFS AND UBS
STOCKHOLDER CLASS
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
140 Broadway
New York, NY 10005
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COURT
Clerk of the Court
United States District Court
Northern District of Alabama
Southern Division
Hugo L. Black United States Courthouse
1729 Fifth Avenue North
Birmingham, AL 34203-2000
COUNSEL FOR UBS DEFENDANTS
Sullivan & Cromwell LLP
Robert J. Giuffra, Jr.
125 Broad Street
New York, NY 10004-2498
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- DO NOTHING – If you choose this option, you will not share in the
proceeds of the Settlement, but you will be bound by any judgment entered by the
court in connection with the Settlement, and you shall be deemed to have, and by
operation of the Judgment shall have, fully released all of the Released Claims
against the Released Persons.
- ENTER AN APPEARANCE- If you are a UBS Stockholder Class Member, you
may, but are not required to, enter an appearance through counsel of your own choosing
at your own expense. If you do not do so, you will be represented by Stockholder
Plaintiffs’ Lead Counsel: Robbins Geller Rudman & Dowd LLP, Patrick J. Coughlin,
Joy Ann Bull, 655 West Broadway, Suite 1900, San Diego, CA 92101 and Labaton Sucharow
LLP, Thomas A. Dubbs, James W. Johnson, 140 Broadway, New York, NY 10005. You will
not be charged personally for the services of Stockholder Plaintiffs’ Lead Counsel.
Further Information
Further information regarding the litigation, the Notice and how to file your claim
may be obtained by contacting the Claims Administrator or reading through the Notice
and Proof of Claim links at the left. You may also contact Stockholder Plaintiffs’
Lead Counsel.
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