Thursday, February 23, 2006

HealthSouth Settles Securities Fraud Claims for $445 Million

Lerach Coughlin Stoia Geller Rudman & Robbins LLP as Co-Lead Counsel for the Central States Southeast and Southwest Area Pension Funds and Labaton Sucharow & Rudoff LLP as Co-Lead Counsel for the New Mexico State Investment Council and the Educational Retirement Board of New Mexico, announced today that they have reached a landmark $445 million settlement agreement in the federal securities class action lawsuit to settle litigation filed against HealthSouth, certain of its former directors and officers and certain other parties in the United States District Court for the Northern District of Alabama relating to allegations of massive securities fraud and related activity that occurred at the company during periods ended in March 2003.
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