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HealthSouth settles with UBS for $100 million

Reuters, October 23, 2008

UBS investment banking firm has agreed to pay $100 million to HealthSouth of Birmingham, AL, to settle investor claims related to a 2006 class-action lawsuit over HealthSouth's accounting and financial reporting. This settlement, reached last month, answers investors' claims that UBS, as HealthSouth's investment bank, was aware of the accounting fraud. Along with the financial settlement, HealthSouth will receive a release of all claims by UBS.