We discuss the securities litigation in our annual report on Form 10-K and our quarterly reports on Forms 10-Q. In January 2004, a consolidated class action complaint was filed on behalf of the common stock and bond holders of HealthSouth. The complaint named HealthSouth as a defendant, as well as more than 30 of its former employees, officers and directors, the underwriters of its debt securities, and its former auditor Ernst & Young LLP.
HealthSouth reached a settlement in 2006. In January 2007, the United States District Court entered an order approving its settlement with the claimants. The aggregate consideration consisted of HealthSouth stocks and warrants valued at $215 million and cash payments by insurance carriers of $230 million. On September 30, 2009, HealthSouth issued the stock and warrants required under the settlement to the court approved administrator of the settlement . Pursuant to the settlement, the final distribution of the cash and securities to qualified claimants is being handled by the administrator.
It is our understanding that information is being provided to the claimants through the sources listed below:
1) Rust Consulting, Inc., HealthSouth's Settlement Claims Administrator, at (888) 952-9108