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HealthSouth Reaches Settlement Deal

By Alabama Public Radio

Birmingham, AL – HealthSouth has agreed to pay 25 million dollars to settle a class-action lawsuit over losses in its employee retirement fund. Documents with the Securities and Exchange Commission show HealthSouth will pay seven million dollars of the agreement, and insurance companies will pay the remaining 18 million. A judge still must approve the settlement. The lawsuit was filed when the value of HealthSouth's retirement plan declined along with HealthSouth stock. The shares lost their value after the S-E-C filed a financial fraud suit in March of 2003.

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